A 42-year-old man will be charged in court on 12 July 2023 for his suspected involvement in deceiving the bank into opening a bank account that was not meant for his own use and relinquishing the bank account to a scam syndicate for the promise of monetary gains.
In May 2023, the Police investigated the man after receiving a report from a victim who had fallen prey to a case of banking-related phishing scam case involving malware which resulted in losses from the victim’s bank accounts.
Investigations revealed that the man had allegedly deceived a bank into opening a bank account, and subsequently handed over the Internet-banking login username, password and OTP of his bank account to an unknown person who had offered him $500 in return for renting his bank account for two weeks. The man’s bank account was subsequently used to launder proceeds of crime amounting to more than $4,900.
For conspiring to cheat the bank into opening a bank account, the offence under Section 417 read with Section 109 of the Penal Code 1871 carries an imprisonment term not exceeding three years, a fine or both. For abetting unknown persons to secure unauthorised access to the bank’s computer system, for first-time offenders, the offence under Section 3(1) read with Section 12 and Section 14 of the Computer Misuse Act 1993 carries a fine not exceeding $5,000, an imprisonment term not exceeding two years or both.
The Police take a serious view of these offences and will not hesitate to take action against individuals who may be involved in scams, and perpetrators will be dealt with in accordance with the law. To avoid being an accomplice in these crimes, members of the public should always reject seemingly attractive money-making opportunities promising fast and easy pay-outs for the use of their bank accounts, or allow their bank accounts to be used to receive and transfer money for others. The Police would like to remind members of the public that individuals will be held accountable if they are found to be linked to such crimes.
For more information on scams, members of the public can visit www.scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688. Anyone with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness. All information will be kept strictly confidential.
SINGAPORE POLICE FORCE
11 July 2023 @ 11:15 PM