The Police have arrested a 23-year-old man for his suspected involvement in a case of money laundering.

On 7 May 2020, the Police received a report from a victim who was introduced by an online friend to invest through an online investment platform. The victim then made fund transfers amounting to at least S$13,000. After the monies were transferred, she was unable to access the online investment platform. As the account was blocked, she could no longer recover the credited funds.

Through investigations, officers from Bedok Police Division established the identity of a man who aided the fund transfers and arrested him on 22 June 2020.

Preliminary investigations revealed that the man is believed to have received payment for his bank account to be used by scammers to accept monies from the victim.

Investigations against the man are ongoing.

The offence of money laundering, punishable under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, carries a jail term of up to 10 years and/or a fine of up to S$500,000.

The Police take a serious view against any person who may be involved in scams and frauds, and perpetrators will be dealt with in accordance to the law. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your bank account or mobile lines as you will be held accountable if these accounts are linked to illegal transactions.



Source: Singapore Police Force