Officers from the Commercial Affairs Department (CAD) conducted an island-wide enforcement operation against money mule activities between 1 November 2023 and 7 November 2023. The operation involved collaboration with DBS Bank’s Anti-Mule Team, which was established this year as part of the bank’s ongoing efforts against scams and money laundering. The operation underscores DBS Bank’s commitment to combat scams and to safeguard customers.
Acting on information shared by DBS bank, officers from the CAD mounted raids island-wide and arrested four men and one woman, aged between 16 and 43 years old, for their suspected involvement in scam cases. Another 47 individuals, aged between 17 and 67, are also assisting with investigations. These individuals were alleged to have handed over their personal bank accounts to scammers or relinquished their Singpass accounts which were then used by the scammers to open bank accounts. Monies more than $680,000 were seized during the operation.
In the context of scams, money mules are typically persons who facilitate the dissipation of criminal benefits by receiving and transferring proceeds of scam through their bank accounts, or by relinquishing their bank accounts to scammers for such purposes. Money mules play a key role in the way scams are perpetrated, as scammers rely on these bank accounts as conduits for their ill-gotten gains.
Investigations are ongoing into the offences of facilitating unauthorised access to computer material as well as cheating. The offence of facilitating unauthorised access to computer material under Section 3 read with Section 12 of the Computer Misuse Act 1993 (CMA) carries an imprisonment term of up to two years, or fine, or both. The offence of unauthorised disclosure of access code for any wrongful gain or unlawful purpose under Section 8 of the CMA carries an imprisonment term of up to three years, or fine, or both. The offence of cheating under Section 417 of the Penal Code 1871 is punishable with imprisonment of up to three years and fine.
To avoid becoming involved in money laundering activities, members of the public should always reject requests for their personal bank accounts to be used by others. The Police would also like to caution members of the public against relinquishing their Singpass accounts to others, as scammers are able to use these accounts to access a whole suite of digital facilities, including opening bank accounts.
For more information on scams, members of the public can visit www.scamalert.sg or call the Anti-Scam Helpline 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.
Arrests made during island-wide operation ▼
SINGAPORE POLICE FORCE
14 November 2023 @ 8:50 PM