A 20-year-old man was arrested on 27 February 2023 for allegedly procuring bank accounts for criminal activities. The suspect was accused of soliciting bank accounts from different individuals and paying them a commission for every bank account relinquished.
The arrest followed extensive investigations into a criminal enterprise that had resulted in losses of over $5 million between 2021 and 2022.
According to Singapore Police Force (SPF), the man’s arrest was the result of the arrest of another individual believed to be his accomplice in the scam. The accomplice was charged in court on 25 February 2023, leading to the seizure of bank cards belonging to another person and electronic devices from the suspect’s possession.
“His arrest was the result of extensive investigations following the apprehension of another man, believed to be his accomplice, in relation to the criminal activities and scam cases with losses amounting to more than $5 million between 2021 and 2022. His accomplice was earlier charged in court on 25 Feb 2023”, the police said in a release.
The man was be charged in court on 1 March 2023.
The offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carries an imprisonment term of up to 10 years, a fine of up to $500,000, or both.
The police take a strong stance against anyone involved in scams, and perpetrators will be dealt with according to the law. To avoid becoming involved in money laundering activities, the public should always reject requests to use their personal bank accounts to receive and transfer money for others, the police added
The police have also cautioned job seekers to be wary of job advertisements promising unusually high salaries for relatively simple job responsibilities. Legitimate businesses do not require their employees to use their bank accounts to receive monies on the company’s behalf.
For further information on scams, the public can visit www.scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688. Anyone with information on such scams may call the Police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness. All information will be kept strictly confidential.
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Images via SPF
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