Between 9 September 2024 and 1 November 2024, at least 59 men and 15 women, aged between 18 and 59, have been charged in court for new offences connected to scams-related money mule activities, which were introduced with the amendments to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (“CDSA”) and the Computer Misuse Act 1993 (“CMA”), and which came into force on 8 February 2024. The amendments empower the Police to act more effectively against those who abuse or allow others to abuse their bank accounts and Singpass credentials.
To further enhance deterrence, the Sentencing Advisory Panel published the Guidelines for Scams-Related Offences (“the Guidelines[1]”) on 21 August 2024 which recommended significant imprisonment sentences as the norm for scams-related offences involving the unlawful handing over of bank accounts and the unauthorised disclosure of Singpass credentials. The Guidelines also recommended that imprisonment and reformative training should be considered, even for young offenders, except for juvenile offenders dealt with in the Youth Court.
Investigations revealed that these individuals had allegedly relinquished or sold their bank accounts and/or Singpass credentials and enabled criminal syndicates to commit money laundering. Some allegedly cheated the banks into opening personal bank accounts and handed over the ATM cards and iBanking credentials of the accounts to unknown persons. Others had allegedly disclosed their Singpass credentials unlawfully, and thereby enabled criminal syndicates to misuse their identities to open bank accounts.
Recently Concluded Cases
In one concluded case, the offender received RM$1,000 for sharing the internet banking account details and One-Time-Password (OTP) of the offender’s personal bank account with another person without taking reasonable steps to ascertain the purpose of this person being able to access the bank account. The bank account was then used to launder more than $160,000 of benefits of criminal conduct. The offender was convicted and sentenced to six months’ imprisonment and a fine of $306 to disgorge the unlawful gain made from the illegal arrangement.
In another case, the offender accepted an offer of “fast cash” of $2,400 in exchange for allowing an unknown person to control his Singpass account. The offender’s Singpass identity was thereafter used to open two bank accounts which were used to receive more than $337,000, of which at least $114,000 was derived from 21 scam victims in Singapore. The offender was convicted and sentenced to eight months’ imprisonment and a sum of $2,400 was forfeited to the State to disgorge the unlawful gain made from the illegal arrangement.
Offenders who relinquish their bank accounts or Singpass credentials enable scam syndicates to perpetrate their scams and launder their criminal proceeds. Scams have a significant social and financial impact on its victims. Some victims lose life-savings and would never fully recover from the scam. The Police take a serious view of these offences and will not hesitate to take action against individuals who may be involved in scams or assist criminals to launder their scam proceeds. Perpetrators will be sternly dealt with in accordance with the law.
Photos of the Arrests▼
[1]The Guidelines may be accessed here
SINGAPORE POLICE FORCE
04 November 2024 @ 12:00 PM