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SINGAPORE: A woman has been jailed for providing paid services without a license; he is the first person to be convicted of such a crime.
Vivian Lange, 24, was found guilty on Thursday (January 28) and sentenced to four weeks in jail, police and the Attorney General’s Office (AGC) said in a joint press release.
Police investigations revealed that Lange had provided a digital payment token service by receiving at least 13 fraudulent fund transfers in the amount of S $ 3,350 on February 27 and February 28.
He then used the money to buy Bitcoin, before transferring the cryptocurrency to multiple Bitcoin wallets.
According to the police, the transactions were carried out on the instructions of an unknown person in exchange for a 10% commission.
Lange claimed that he took a part-time job online, where his role was to receive money into his bank account, before depositing it into Bitcoin machines.
The money deposited into his account turned out to be the proceeds of a crime from victims of online scams.
“The woman is not licensed to conduct a business providing any type of payment services in Singapore and is not an exempt payment service provider under the Payment Services Act 2019,” police said.
Anyone found guilty of conducting a payment service business without a license can be fined up to S $ 125,000 or imprisoned for up to three years, or both.
