The police has nabbed seven men - aged between 28 and 53 - for their suspected involvement in a transnational illegal betting syndicate.The arrests occurred during an operation which was made possible by a collaboration with the US Federal Bureau of Investigation (FBI) and Meta, said the police in a news release on Monday (Oct 6).The police stated that they had received several reports of victims in Singapore being enticed to open accounts with an online gambling website since March 2023. These victims would then be asked to transfer money to anonymous bank accounts in exchange for gambling credits. They could initially redeem their winnings through bank transfers from these anonymous bank accounts. However, after these victims continued to gamble and attempt to redeem more winnings, the syndicate would inform them they need to either accumulate more winnings or purchase more credits in order to redeem the funds they won. Several victims lost more than $175,000 as a result of this scam, said the police. Read more