SINGAPORE: Six people will be charged on Monday (Nov 4) with giving a criminal syndicate access to their bank accounts, which were then used to move almost S$8 million (US$6 million).
The three men and three women, aged between 20 and 35, were arrested in June 2023. They are suspected to have been involved in a spate of banking-related malware incidents.
Since March 2023, the police have received reports that malware was used to compromise mobile devices, resulting in unauthorised transactions being made from victims’ bank accounts.
Investigations revealed that between July 2022 and May 2023, these six people allegedly opened bank accounts, including corporate bank accounts, and handed the details of these accounts to a criminal syndicate.
Each of them purportedly gave up at least one bank account in exchange for monthly payments.
The bank accounts were allegedly used to move large sums of money between September 2022 and May 2023.
The six suspects will be charged with various offences, including abetment of cheating, abetting unauthorised access to computer material, assisting another person to retain benefits of crime, and registering a shell company.
Four of them are also suspected of assisting in money laundering by making cash withdrawals or fund transfers for the criminal syndicate.
The four will face additional charges for transferring benefits from criminal conduct.
One of them also allegedly induced three other people to relinquish their bank accounts, which were also used to facilitate money laundering for the criminal syndicate. This individual is also suspected of providing false information to an investigation officer.
A seventh person who is accused of acting as “middle management” in the criminal syndicate will also be handed more charges.
The man, who was earlier charged on Jun 15, 2023, faces additional offences including abetment of cheating, abetting unauthorised access to computer material, assisting another to retain benefits from criminal conduct, transferring the benefits from such conduct, and instructing the commission of offences for an organised criminal group.
He allegedly recruited members for the criminal syndicate, as well as instructed others to do the same and relinquish their bank accounts.
“He also allegedly passed instructions from the criminal syndicate to other members of the organised criminal group to perform cash withdrawals or fund transfers to facilitate money laundering,” said the police.
Anyone found guilty of retaining benefits from criminal conduct or transferring such benefits can be jailed for up to 10 years, fined up to S$500,000, or both.
If found guilty of being a member of an organised criminal group, a person may be jailed for up to five years, fined up to S$100,000, or both. Offenders who recruit members or instruct others to commit crimes will face harsher punishments.
For conspiring to cheat a bank into opening a bank account, an offender can be jailed for up to three years, fined, or both. For abetting unknown people to secure unauthorised access to a bank’s computer system, a first-time offender can be jailed for up to two years, fined up to S$5,000, or both.
“Members of the public are reminded not to download any suspicious Android package kit (APK) from unknown sources as they may contain malware,” said the police.
“To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your Singpass, bank account or mobile lines as you will be held accountable if these are linked to crimes.”
The police added that they would continue to take action against those who give up their bank accounts for criminal activities.
