Person jailed for accepting $300 to share bank details used in $160k money laundering scheme
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A person was sentenced to six months in jail and fined $306 for sharing his internet banking account details and One-Time Password with another person. That person had allegedly received RM$1,000 (S$302) for the illegal arrangement, said the police in stPerson jailed for accepting $300 to share bank details used in $160k money laundering scheme
A person was sentenced to six months in jail and fined $306 for sharing his internet banking account details and One-Time Password with another person. That person had allegedly received RM$1,000 (S$302) for the illegal arrangement, said the police in statement on Monday (Nov 4). The person's bank account was then used to launder more than $160,000 of money obtained from criminal conduct. The unnamed individual is one of 74 people arrested by the police between Sept 9 and Nov 1 for allowing their Singpass credentials or bank accounts to be used for criminal activity. A total of 59 men and 15 women, aged between 18 to 59, were charged in court under the new amendments to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act and the Computer Misuse Act, said the police. Some cheated banks into opening accounts Some also cheated banks into opening personal bank accounts before handing over the ATM cards and credentials of the accounts to unknown persons. Read more
