40 Suspects Charged for Facilitating Fraudulent Activities

Between September 9 and 11, 2024, 40 suspects were charged in Singapore for their involvement in scam-related “money mule” activities.

After investigations, the police found that the suspects had relinquished or sold their bank accounts and Singpass (Singapore digital identity card) to allow criminals to carry out money laundering activities.

Some concealed the true purpose of opening accounts from the banks and handed over their ATM cards and iBanking credentials to unknown persons. Others deliberately gave their Singpass to criminals who misused their identity to open bank accounts.

In one case, a bank account holder allowed a stranger to take control of his account, resulting in the laundering of $300,000.

Another suspect, in a bid to make quick money, provided his Singpass to criminals to open four bank accounts suspected of laundering $500,000 in illegal funds.

The Singapore Police Force said, “The Police take a serious view of these offences and will not hesitate to take action against individuals who may be involved in scams, and perpetrators will be sternly dealt with in accordance with the law. “

To curb Singpass abuse and the facilitation of money laundering to scams and other illegal activities, in 2023, Singapore introduced new offenses in the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (CDSA) and the Computer Misuse Act 1993 (CMA), which came into effect on February 8 this year.

_{Photos of the suspects. Source-SPF}