Having involved in various scams including fake friend calls, investments, jobs, and the impersonation of government officials in Singapore, seven (7) men have been arrested.
The suspects, aged between 18 and 34, allegedly made deals with criminal syndicates via Facebook or messaging app Telegram over the use of their bank accounts, the police said in a news release on Friday (June 23).
As per Todayonline reports, they were then believed to have sold or rented their bank accounts, or cheated banks into opening new accounts so that they could sell or rent them to these syndicates.
The suspects received between S$500 and S$900 per bank account. One of the men was also alleged to have sold his Singpass credentials for S$300 to criminal syndicates to create new bank accounts and other accounts.
In May, a set of new laws were passed to make it a crime for anyone to share their Singpass password or bank account with someone whom they suspect will use it to commit a crime.
All seven men will be charged in court on Friday for their suspected involvement in various offences related to money mule activities, including cheating, money laundering and facilitating unauthorised access to computer material.
Those convicted of cheating will face up to three years’ jail, a fine, or both. The offence of money laundering carries a jail term of up to 10 years, a fine not exceeding S$500,000, or both.
Those who facilitate unauthorised access to computer material will face up to two years’ jail, a fine, or both. Offenders who provide unauthorised disclosures of access codes will face up to three years’ jail, a fine not exceeding S$10,000, or both.
The police said that they take a serious view of persons who may be involved in scams and frauds, and perpetrators will be dealt with in accordance with the law.
