3 arrested for suspected money mule activities, $500k seized
Three people have been arrested for suspected money mule activities by illicitly sharing their Singpass credentials with criminal groups.
More than $500,000 in suspected scam proceeds were seized in a joint operation by the police and DBS Bank.
One man and two women, aged between 20 and 35, were detained, the Singapore Police Force (SPF) said on Sept 25, while 23 others are assisting with investigations.
Officers from the SPF’s Commercial Affairs Department and seven land divisions worked with an anti-mule team from DBS in an islandwide operation from Sept 16 to Sept 20.
Using information provided by DBS, the police identified the suspected money mules who allegedly allowed their Singpass credentials to be used by criminal syndicates for fake loan, job and investment applications.
The suspects, who mostly shared their information over Telegram or Instagram, were promised an undisclosed amount of cash in return.
The criminal syndicates then used the suspects’ credentials to create shell companies and open corporate bank accounts to store and launder more than $500,000.
Investigations into the various offences are ongoing.
If convicted of assisting others to retain the proceeds of criminal conduct, the three individuals could face a three-year jail term and a $50,000 fine. They also face an additional charge for handing over their access codes unauthorised, which carries a potential three-year jail term and $10,000 fine.
The police said members of the public should reject requests by others to share their Singpass credentials, bank accounts and mobile numbers to avoid facilitating criminal activities and becoming complicit in such crimes.
Those with information on suspected scams can call the police hotline on 1800-255-0000 or submit information online at police.gov.sg/i-witness
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