Dozens face first-time charges under anti-fraud laws that criminalize sharing Singpass and bank details

SINGAPORE: A total of 40 people aged between 18 and 43 will be charged in court with new offences related to fraudulent money laundering activities.

The investigation revealed that they allegedly disclosed or sold their bank accounts or Singpass login details, enabling criminal syndicates to launder money, the Singapore Police Force (SPF) said on Sunday (September 8).

This is the first time that individuals have been charged following changes to the law passed last year that gave police more power to prosecute money mules and people who sell Singpass data to fraudsters.

The new offences were introduced by amendments to the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (CDSA) and the Computer Misuse Act (CMA).

The offences came into force on February 8.

Police said charges will be brought against the 33 men and seven women between September 9 and 11.

Some of them are said to have defrauded banks to open accounts and given bank cards and online banking details to strangers. Others are accused of illegally sharing their Singpass login details.

This allows criminal syndicates to misuse their identities when opening bank accounts, police added.

In one case, an individual allegedly gave a stranger access to his bank account and subsequently used it to launder over S$300,000 in criminal proceeds.

In another case, a Singpass account holder is accused of giving a stranger access to his identity in response to an offer for quick cash. His identity was then used to open four bank accounts and launder more than S$500,000 from criminal activities.