2 men, 2 women, aged 18-22, arrested for alleged involvement in money mule activities, S$440,000 seized

The police have arrested two men and two women, aged between 18 and 22, and are investigating 20 other persons for their suspected involvement in money mule activities.

Over S$440,000 in suspected scam proceeds was seized during the police operation between Oct. 14 and 17.

Relinquished accounts for as much as S$500 per account

Acting on information provided by GXS Bank, the police identified the suspects.

These persons are alleged to have relinquished newly-opened bank accounts, mostly over Telegram, for as much as S$500 per account.

Some of them are alleged to have responded to online advertisements for new bank account applications with attractive cashback opportunities and had given scammers access to their mobile phones to open the new GXS bank accounts.

Some also allegedly relinquished their Singpass credentials for as much as S$500 per set of credentials.

Their Singpass credentials were then purportedly used by criminal syndicates to open corporate bank accounts for use in money laundering.

Penalties

Investigations are ongoing into various offences, including assisting another to retain benefits of criminal conduct and unauthorised disclosure of access code.

The offence of assisting another to retain benefits of criminal conduct carries a jail term of up to three years, or a fine of up to S$50,000, or both.

The offence of unauthorised disclosure of access code carries a jail term of up to three years, a fine up to S$10,000, or both.

The police said they take a serious stance against any person who is involved in facilitating scams, and perpetrators will be dealt with in accordance with the law.

To avoid being an accomplice to crime, members of the public should always reject requests by others to use their Singpass credentials, bank accounts or mobile lines as one could be held accountable if these are linked to crimes.

Anyone with information on such scams may call the police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/i-witness.

All information will be kept strictly confidential.

Members of the public can visit www.scamshield.gov.sg or call the ScamShield Helpline at 1799.

Top photos via Singapore Police Force