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3 men to be charged with money laundering offences, with one case involving more than S$5 million

SINGAPORE — Three men aged 23 to 28 will be charged on Friday (Dec 30) with alleged money laundering offences in relation to two different scams. 

SINGAPORE — Three men aged 23 to 28 will be charged on Friday (Dec 30) with alleged money laundering offences in relation to two different scams. 

In a statement released on the same day, the police said that they received a report in January from a woman who had fallen prey to a China officials impersonation scam. 

Investigations later uncovered that a 23-year-old man had chanced upon a message on the Telegram mobile application offering fast cash in exchange for Singpass credentials.

He then allegedly instigated his friend, a 25-year-old man, to hand over his Singpass login details so that he could obtain the cash. 

Singpass is the national authentication and passcode system for e-government and other services.

After getting the Singpass details, a scam syndicate successfully registered three bank accounts with Standard Chartered Bank, United Overseas Bank (UOB) and Hong Kong and Shanghai Banking Corporation Limited (HSBC) in the 25-year-old man’s name. 

These bank accounts were later used to launder more than S$267,000, the police said. 

The two men will be charged with knowingly conspiring to disclose Singpass login credentials to other people, which were later used to create bank accounts to launder proceeds of crime by scam syndicates. 

In a separate case, the police received a report in June from a woman that she was a victim of a bank phishing scam. 

Investigations showed that a 28-year-old man was allegedly offered cash by his friend sometime in April for opening a bank account and then relinquishing it. 

On April 27, the man opened bank accounts with UOB and OCBC before relinquishing the cards for automated teller machines and internet-banking credentials to his friend for S$100 for every account.

His UOB and OCBC accounts were then used to launder more than S$550,000, the police said. 

The man also allegedly handed over his wife's Singpass login details in exchange for S$100, which was used by the scam syndicate to register one company and a DBS corporate bank account.

They also opened up four other bank accounts with HSBC, CIMB, UOB and Standard Chartered Bank with her details. 

These accounts were later used to launder more than S$4.6 million. 

Anyone convicted of cheating can be jailed up to three years or fined, or both. 

For relinquishing his bank account’s debit or ATM card and internet-banking credentials, the 28-year-old man can be jailed up to two years or fined up to S$5,000, or both. For repeat offenders, they can be jailed up to three years or fined up to S$10,000, or both. 

For conspiring to disclose Singpass login details, the three men can be jailed up to three years or fined up to S$10,000, or both. The penalty for a repeat offence is jail time for up to five years or a fine of up to S$20,000, or both. 

The police said that they take a serious view of these offences: "The police will not hesitate to take action against individuals who may be involved in scams, and perpetrators will be dealt with in accordance with the law." 

They added that members of the public should reject seemingly attractive money-making opportunities promising pay-outs for the use of their Singpass or bank accounts. 

"The police would like to remind members of the public that individuals will be held accountable if they are found to be linked to such crimes."

For more information on scams, members of the public may visit www.scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688. Anyone with information on scams may call the police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness

Related topics

scam money laundering crime police

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