On 27 February 2023, a 20-year-old man was arrested for his suspected involvement in procuring bank accounts for criminal activities. He is alleged to have solicited bank accounts from different individuals, by paying them a commission for every bank account relinquished.
His arrest was the result of extensive investigations following the apprehension of another man, believed to be his accomplice, in relation to the criminal activities and scam cases with losses amounting to more than $5 million between 2021 and 2022. His accomplice was earlier charged in court on 25 Feb 2023.
Police also seized bank cards belonging to another person, as well as electronic devices from the man.
The man will be charged in court on 1 March 2023. The offence of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carries an imprisonment term of up to 10 years, a fine of up to $500,000, or both.
The Police take a serious stance against any person who may be involved in scams, and perpetrators will be dealt with in accordance with the law. To avoid becoming involved in money laundering activities, members of the public should always reject requests to use their personal bank accounts to receive and transfer money for others.
The Police would like to caution job seekers to be wary of job advertisements that promise unusually high salaries for relatively simple job responsibilities. No legitimate business will require employees to utilise their own bank accounts to receive monies on the business’ behalf.
Source: Singapore Police Force