Man, 34, jailed 1 year & 9 months for renting out UOB bank account that received S$3.3 million

Deep in debt from bank loans and unlicensed moneylenders, a man in Singapore resorted to renting out his bank account in exchange for money.

Kong Juu Wenn, 34, opened a bank account and relinquished access to a person he met online in return for S$600 per month.

Kong, a Permanent Resident, was sentenced to 1 year and nine months in jail on Mar. 19.

Telegram advertisement

In mid-2022, Kong came across an advertisement in a Telegram chat group seeking people who were willing to rent out their bank accounts.

He reached out to someone using the username "Mars" on Telegram, using the contact details provided in the ad.

Kong was told he would receive S$600 per month for each bank account he agreed to relinquish access to.

According to court documents seen by Mothership, Kong was aware that the account he handed over would be used to facilitate transactions related to illegal online gambling activities.

However, in need of money to repay both his bank loans and debts to unlicensed moneylenders, he accepted the offer.

Opened bank account

On Jul. 8, 2022, Kong opened a UOB bank account at their branch in Lot One Shopping Mall.

In doing so, he represented to UOB that he was the "sole intended and authorised operator of the UOB Account."

Kong later relinquished internet banking access to the UOB account, including the OTP, to "Mars" via WhatsApp.

Investigations revealed that between Jul. 8, 2022, and Nov.30, 2022, numerous credit and debit transactions were made in the UOB account through online transfers.

During this period, more than S$3.3 million were transferred into the account before being moved out.

Kong was paid S$600 per month from August to October 2022, but did not receive any payment from November 2022 onwards.

In total, he earned S$1,800 over the three months.

Top photos from Canva