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Four Individuals to Face Charges in Money Laundering Scam Investigations

 




Four individuals, including two teenagers aged 17 and two men aged 19 and 21, are set to be charged in court on 8 March 2024 for their suspected involvement in money laundering activities related to various scams.

The scams include Job Scam, Friend Impersonation Scam, E-Commerce Scam, Investment Scam, and Phishing Scam.

Investigations revealed the specifics of their alleged involvement in money laundering cases:

  • In May 2023, the 19-year-old man is accused of conspiring to cheat banks by opening accounts for illicit purposes and disclosing his Internet banking credentials.

  • In October 2023, one of the 17-year-old teenagers allegedly disclosed his Singpass credentials for financial gain, leading to the opening of a bank account used for laundering proceeds from a phishing scam.

  • In November 2023, the 21-year-old man reportedly disclosed his Internet banking credentials for monetary reward, enabling the laundering of proceeds from job scams.

  • In January 2024, the other 17-year-old teenager is accused of conspiring to cheat a bank by opening an account and disclosing her Internet banking credentials for financial gain, facilitating the laundering of proceeds from various scams.

The charges range from conspiring to cheat banks to abetting unauthorized access to banking systems and unauthorized disclosure of access codes. These offences carry penalties including fines, imprisonment, or both.

The Police emphasize the seriousness of such offences and the consequences for individuals involved in scams. They urge the public to reject lucrative yet suspicious money-making opportunities involving Singpass or bank account usage. Individuals found linked to such crimes will be held accountable under the law.

*Credits: police.gov.sg

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Location: Singapore

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