Seventeen men and seven women, aged between 27 and 58, are being investigated for their suspected involvement in unlicensed foreign currency exchange and remittance activities at Marina Bay Sands (MBS) casino, the Singapore Police Force (SPF) announced on 6 September. Fourteen of the 24 individuals were arrested to assist with police investigations, and 13 of them were charged in court on 7 September.
Background
On 5 and 6 September, a multi-agency enforcement operation was conducted at the MBS casino. The operation was led by the Central Police Division and supported by officers from the Criminal Investigation Department, Commercial Affairs Department, and partners from MBS. Preliminary investigations revealed that the 24 individuals were allegedly providing unlicensed services, including foreign currency exchanges, remittances, and the buying or selling of casino chips to patrons.
Seized items
During the operation, over S$190,000 worth of casino chips and cash, along with an array of electronic devices, were seized. The SPF released a photo of the seized goods, showcasing the extent of the unlicensed activities.
Legal implications
Under Section 5 of the Payment Services Act 2019, individuals found guilty of carrying on a business of providing payment services without a licence may face a fine of up to S$125,000, imprisonment for a term of up to three years, or both. Additionally, under Regulation 9 of the Casino Control (Conduct of Gaming) Regulations 2009, any person who uses chips for any purpose other than playing games or tipping in the casino premises may be liable on conviction to a fine not exceeding S$10,000, imprisonment for a term not exceeding 12 months, or both.
Future implications
The SPF’s crackdown on unlicensed foreign currency exchange and remittance activities at MBS casino highlights the ongoing efforts to maintain regulatory compliance within Singapore’s gaming industry. This operation serves as a warning to others engaged in similar activities and underscores the importance of adhering to legal requirements. Future enforcement actions are likely as authorities continue to monitor and regulate the sector to prevent illegal activities.
