The Police have arrested a 31-year-old man for his suspected involvement in assisting to facilitate the retention of benefits of criminal conduct.
On 26 December 2021, the Police received a report from a victim of an OCBC bank phishing scam where the victim realised that there were unauthorised transactions made from his bank account, resulting in a loss of more than $100,000. Preliminary investigations revealed that a sum of more than $18,000 of the victim’s money was transferred to a UOB corporate bank account. The 31-year-old man had allegedly used his CorpPass credentials to open a corporate account for a locally incorporated company in November 2021. The man then relinquished the bank account to an unknown person, allegedly for monetary benefits. The bank account was then used to facilitate several high-value transactions between 20 December 2021 to 27 December 2021, resulting in transactions of more than S$4 million passing through the bank account.
The 31-year-old man had purportedly entered into an arrangement with an unknown person in November 2021 to allow the use of his bank account for the transfer of and withdrawal of benefits of criminal conduct.
The man will be charged in court on 19 July 2022 with entering an arrangement to assist another person to retain benefits from criminal conduct under Section 44 (1) (a) of the Corruption, Drug Trafficking and other Serious Crimes (Confiscation of Benefits) Act punishable under Section 44 (5) (a) of the said Act. The offence carries an imprisonment term of up to 10 years, a fine of up to $500,000 or both.
SINGAPORE POLICE FORCE
18 July 2022 @ 6:50 PM