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Over 70 Charged for Money Mule Activities in Singapore

 


Between 9 September and 1 November 2024, Singapore’s courts charged at least 59 men and 15 women, aged 18 to 59, with new offences linked to money mule activities connected to scams. This follows amendments to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (CDSA) and the Computer Misuse Act 1993 (CMA), which took effect on 8 February 2024. These amendments strengthen police authority to address individuals who allow misuse of their bank accounts and Singpass credentials for scams.

To further curb scams, the Sentencing Advisory Panel released Guidelines for Scams-Related Offences on 21 August 2024. These guidelines recommend substantial prison sentences for offences involving unauthorized sharing of bank accounts and Singpass credentials. The guidelines also advise considering imprisonment or reformative training for young offenders, excluding juveniles processed in Youth Court.

Investigations revealed that those charged had allegedly sold or relinquished control of their bank accounts and Singpass credentials, enabling criminal syndicates to launder money. Some are suspected of fraudulently opening bank accounts and providing ATM and online banking details to unknown persons. Others allegedly allowed syndicates to misuse their identities through Singpass for illicit bank account openings.

In one case, a person received RM$1,000 for sharing personal bank account details and OTP access with an unknown individual, allowing the laundering of over $160,000. This individual was sentenced to six months in prison and fined $306 to recover illicit gains. In another case, an individual accepted $2,400 to permit access to his Singpass account, which was used to open two bank accounts that processed over $337,000, including funds from 21 scam victims in Singapore. This person was sentenced to eight months in prison, and $2,400 was forfeited to the State.

The police view these offences seriously due to their social and financial impact, with some victims suffering irreversible losses. Authorities stress that offenders who assist scams by relinquishing their accounts or credentials will be met with stringent legal consequences.



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Location: Singapore

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