Alleged money mule to be charged with receiving over $1.6m from scam victims, Latest Singapore News - The New Paper

Alleged money mule to be charged with receiving over $1.6m from scam victims

A 36-year-old man will be charged on Thursday (Jan 27) for allegedly being a money mule who helped to move more than $1.6 million transferred to him by scam victims.

The police received 22 reports between September and November 2020 about investment scams, in which victims were deceived into making more than 150 transfers totalling more than $1.6 million.

The transfers were allegedly made to two virtual accounts and one local bank account belonging to the man.

The police said in a press release on Wednesday that the man had purportedly arranged to receive the funds locally for a fee on behalf of a person known to him as "Kenny".

On Sept 30, 2020, he allegedly delivered some $237,000 in cash withdrawn from his accounts to an unknown person.

The police urged members of the public not to let others use their bank accounts.

"The police take a serious view of the misuse of the financial system to launder proceeds of crime, and offenders will be dealt with in accordance with the law," said the release.

To avoid being an accomplice to crimes, police said that members of the public should reject requests from others to use their bank accounts as they "will be held accountable if these are linked to crimes".

Those convicted of providing unlicensed domestic transfer services may be jailed for up to three years and fined up to $125,000.

Those convicted of facilitating another person's control of benefits from crime can be jailed for up to 10 years and fined up to $500,000.