A 32-year-old man will be charged in court on 13 July 2022 for his suspected involvement in money laundering.
In July 2021, the man had allegedly used a corporate bank account of a locally incorporated company and other personal bank accounts belonging to others to acquire at least S$100,000. These were believed to be illicit proceeds from fraud perpetrated overseas. He allegedly transferred most of the proceeds to other individuals in Singapore and overseas, and used part of it for his own benefit.
The man will be charged under Section 47(2) and Section 47(3) of the Corruption Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (“CDSA”) for allegedly transferring and using the criminal benefits of another person.
Anyone found guilty of acquiring, using, transferring, or assisting another to retain benefits from criminal conduct under the CDSA faces imprisonment of up to 10 years, or a fine up to S$500,000, or both.
The Police take a firm stance against any person who may be involved in money laundering, and perpetrators will be dealt with in accordance with the law. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use their bank account as they will be held accountable if the bank accounts are linked to crimes.
If you receive, or have been asked to receive funds from unknown or dubious sources, please contact the Anti-Scam Helpline at 1800-722-6688. Anyone with information on such scams can also call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness.
SINGAPORE POLICE FORCE
12 July 2022 @ 8:40 PM