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40 Individuals Charged for Involvement in Scams-Related Money Mule Activities

 


Thirty-three men and seven women, aged between 18 and 43, will face charges in court from September 9 to 11, 2024, for offences linked to scams-related money mule activities. These offences are newly introduced under the amendments to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA) 1992 and the Computer Misuse Act (CMA) 1993, which came into force on February 8, 2024.

The new offences aim to curb the facilitation of scams, the movement of criminal proceeds, and the misuse of Singpass credentials. The individuals are alleged to have surrendered or sold their bank accounts and Singpass credentials, enabling criminal syndicates to commit money laundering and scams. In some cases, they deceived banks into opening accounts, handed over ATM cards and iBanking credentials, or unlawfully disclosed their Singpass credentials.

For example, one individual’s bank account was used to launder over $300,000, while another's Singpass credentials were exploited to open four bank accounts and launder more than $500,000.

The offences carry significant penalties, including imprisonment and fines:

  • Assisting another to retain benefits from criminal conduct (CDSA): Up to three years in prison, a fine, or both.
  • Cheating (Penal Code): Up to three years in prison, a fine, or both.
  • Facilitating unauthorized access to computer material (CMA): Up to two years in prison, a fine, or both.
  • Unlawful disclosure of password or access code (CMA): Up to three years in prison, a fine, or both.

The Police emphasize a serious stance on such offences and will enforce the law stringently. The Sentencing Advisory Panel has issued guidelines recommending substantial imprisonment terms for scams-related offences involving the misuse of bank accounts or Singpass credentials, with scope for enhanced sentences in aggravating circumstances.

Precautionary Measures:

  • Keep your payment and Singpass accounts secure and do not share credentials with others.
  • Do not let others use or control your payment accounts.
  • Refrain from receiving or transferring money for unknown persons.
  • Avoid asking for or sharing another person's Singpass credentials.
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Location: Singapore

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