The Police will be charging another three men and three women, aged between 20 and 35, in court on 4 November 2024 for their suspected involvement in the spate of banking-related malware incidents reported between May and June 2023. A seventh man who had previously been charged will also have further charges tendered against him. [1]
Background
Since March 2023, the Police have received numerous reports informing that malware was used to compromise mobile devices, resulting in unauthorised transactions made from the victims’ bank accounts. The three men and three women, who were believed to be involved in some of the reported incidents, were arrested during an island-wide operation conducted from 13 June 2023 to 14 June 2023. Investigations revealed that between July 2022 and May 2023, these six persons had allegedly opened new bank accounts, including corporate bank accounts, and relinquished the details of the bank accounts to a criminal syndicate. Each of them relinquished at least one bank account for a monthly monetary reward. These bank accounts were allegedly used to facilitate large movements of funds, amounting to almost $8 million, between September 2022 and May 2023. These six persons will be charged for various offences, which include abetment of cheating, abetting unauthorised access to computer material, assisting another to retain benefits from criminal conduct, and registering a shell company.
Four of the six persons involved allegedly further assisted in money laundering by making cash withdrawals or fund transfers for the criminal syndicate. The four will face additional charges for transferring of benefits from criminal conduct. One of them also allegedly recruited three of the other persons to relinquish their bank accounts, which were used to facilitate money laundering for the criminal syndicate, and also provided false information to an investigation officer in the course of investigations.
In addition, a seventh person, who was earlier charged on 15 June 2023 in relation to this case, will face additional charges, which include abetment of cheating, abetting unauthorised access to computer material, assisting another to retain benefits from criminal conduct, transferring benefits from criminal conduct, and instructing the commission of offences for an organised criminal group. He allegedly acted as “middle management” in the criminal syndicate by recruiting members, as well as instructing others to recruit more members, to relinquish their bank accounts to the criminal syndicate. He also allegedly passed instructions from the criminal syndicate to other members of the organised criminal group to perform cash withdrawals or fund transfers to facilitate money laundering.
Offences
Under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, any person who assists another to retain benefits from criminal conduct, converts or transfers any benefits from criminal conduct, or removes benefits from criminal conduct from jurisdiction shall be liable on conviction to a fine not exceeding $500,000, to imprisonment for a term not exceeding 10 years, or both.
Under the Organised Crime Act 2015, any person who is or acts as a member of a locally-linked organised criminal group shall be liable on conviction to a fine not exceeding $100,000, to imprisonment for a term not exceeding five years, or both. It is also illegal to recruit members or instruct another person to commit offences for an organised criminal group, and the offender will face enhanced punishments prescribed for the offence instructed.
For conspiring to cheat a bank into opening a bank account, the offence under Section 417 read with Section 109 of the Penal Code 1871 carries an imprisonment term of up to three years, a fine, or both. For abetting unknown persons to secure unauthorised access to a bank’s computer system, the offence under Section 3(1) read with Section 12 of the Computer Misuse Act 1993 carries a fine of up to $5,000, an imprisonment term of up to two years, or both, for a first-time offender.
Members of the public are reminded not to download any suspicious Android Package Kit (APK) from unknown sources as they may contain malware. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your SingPass, bank account, or mobile lines as you will be held accountable if these are linked to crimes.
The Police take a serious view of these offences and will continue to take tough enforcement action against those who relinquish their bank accounts for criminal activities.
[1](SPF | Eight Persons Arrested For Suspected Involvement In Banking - Related Malware Incidents (police.gov.sg))
SINGAPORE POLICE FORCE
03 November 2024 @ 12:00 PM