3 people arrested for suspected money laundering activities, over $500,000 seized

SINGAPORE – Three people have been arrested on suspicion of money laundering activities for illegally sharing their Singpass login details with criminal groups.

A joint operation by police and DBS Bank also resulted in the seizure of over $500,000 in suspected fraud proceeds.

A man and two women aged between 20 and 35 were arrested, the Singapore Police Force (SPF) said on September 25. 23 other people assisted in the investigation.

Officers from the SPF’s Commercial Affairs Division and seven other land divisions worked with a DBS anti-mule team in an island-wide operation from 16 to 20 September.

Using information from the DBS, police were able to identify the suspected money mules who allegedly provided their Singpass login details to criminal syndicates for fake loan, job and investment applications.

The suspects, who mostly shared their information via Telegram or Instagram, were promised an undisclosed amount of cash in return.

The criminal syndicates then used the suspects’ login details to set up shell companies and open corporate bank accounts for money laundering purposes.

The investigations into the various crimes are ongoing.

If convicted of aiding and abetting the seizure of proceeds of crime, the three face three years in prison and a $50,000 fine. They also face the charge of unauthorized disclosure of their access codes, which could result in three years in prison and a $10,000 fine.

The police said citizens should always refuse requests from others to use their Singpass login details, bank accounts and mobile phone numbers to avoid facilitating criminal activities and becoming complicit in said crimes.

Anyone with information about suspected scams can call 1800-255-0000 or police.gov.sg/i-witness.