On 18 July 2025, Tan Boon Seng (“Tan”), aged 44, was charged in court with the following:
- Two counts of possessing property which may be reasonably suspected of being benefits from criminal conduct and failing to account satisfactorily for how he came by the property, which is an offence under Section 47AA(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap 65A, 2000 Rev Ed) (“CDSA”); and
- Two counts of failing to exercise reasonable diligence as a director, which is an offence under Section 157(1) of the Companies Act (Chapter 50, 2006 Revised Edition) (“CA”).
Case Details
In October 2021, the Police received a report informing that on 29 October 2021, a foreign individual fell victim to a government official impersonation scam and had transferred approximately S$ 67,441.60 to a bank account belonging to KTBS Business Solutions Pte Ltd (“KTBS”). Tan was the sole director of KTBS and an authorised signatory of KTBS’ bank account during the material period.
In November 2021, the Police received another report informing that between 19 October 2021 and 22 October 2021, another foreign individual became victim of a computer hacking fraud and had transferred approximately S$ 54,842.27 to a bank account belonging to TTYL Pte Ltd (“TTYL”). During this period, Tan was the sole director of TTYL and an authorised signatory of TTYL’s bank account.
Investigations revealed that Tan had agreed to allow an unknown individual to use KTBS’ and TTYL’s corporate bank accounts to receive monies that were reasonably suspected of being benefits from criminal conduct, without making any inquiry into the source of funds. Tan subsequently dissipated the sums received in both bank accounts. By doing the above acts, Tan had failed to exercise reasonable diligence as a director of KTBS and of TTYL.
The offence under Section 47AA of the CDSA carries an imprisonment term of up to 3 years, a fine of up to S$150,000, or both.
The offence under Section 157(1) of the CA carries an imprisonment term of up to 12 months or a fine of up to S$5,000.
Scams, such as those perpetrated online and/or from overseas, are a major crime concern. Singapore takes a serious view on scams and related money laundering activities. There is a need to deter individuals from using Singapore’s financial system as a conduit for illicit funds as it affects Singapore’s reputation as an international financial centre. The Police will not hesitate to take stern enforcement actions in accordance with the law, against any individuals who commit these offences and persons who facilitate them by knowingly allowing their bank accounts to be used by scammers to receive monies and launder criminal proceeds.
SINGAPORE POLICE FORCE
18 July 2025 @ 11:58 AM