Man allegedly opened bank account involved in laundering of over $1m in suspected scam proceeds

A 26-year-old man was to be charged on Feb 10 for money mule activities, said the police.

Preliminary investigations revealed that he allegedly assisted scam syndicates in accessing compromised Singpass accounts obtained through job scam advertisements posted on Telegram.

One of the Singpass accounts was purportedly used to register a business and open a corporate bank account, which was allegedly involved in the laundering of more than $1 million in suspected scam proceeds.

The man is also believed to have abetted scam syndicates in soliciting bank accounts through various social media messaging platforms.

Two mobile phones and two ATM cards were seized as case exhibits.

The offence for abetting to secure unauthorised access to the bank's computer system carries a fine not exceeding $5,000, an imprisonment term not exceeding two years, or both, for a first-time offender.

The offence of obtaining another person's credentials carries an imprisonment term not exceeding three years, a fine not exceeding $10,000 or both, for first-time offenders.