7 suspected money mules to be charged, Latest Singapore News - The New Paper

7 suspected money mules to be charged

Seven people are expected to be charged in court on Jan 11 on suspicion of acting as money mules.

The group, comprising five men and two women aged between 19 and 52, allegedly sold or rented their bank accounts to criminal syndicates for up to $3,000, said the police in a statement on Jan 10.

They allegedly opened bank accounts before passing their automated teller machine (ATM) cards and Internet banking personal identification numbers to the syndicates.

Two of the men, aged 27 and 44, also allegedly sold their Singpass credentials to syndicates, allowing them to create new bank accounts.

They will be charged in court over various offences connected to money mule activities, which include cheating and facilitating unauthorised access to computer material.

If convicted of cheating, they can be jailed up to three years, fined, or both.

If found guilty of facilitating unauthorised access to computer materials, they can be fined, jailed for up to two years, or both, for first-time offenders.

The statement added that the police will not hesitate to take action against individuals who may be involved in scams, stressing that they take a serious view of such offences.

It reminded the public to always reject “seemingly attractive money-making opportunities” that promise payments for the use of their Singpass or bank accounts.

People should also not allow their bank accounts to receive or transfer money on behalf of others, it said.

Between January and June in 2023, more than 4,700 people were arrested or investigated for being money mules.

A study by the Singapore Police Force in 2023 involving 113 money mules linked to scam cases reported between 2020 and 2022 found that about 45 per cent of them were 25 years old and younger.