SINGAPORE – 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.
Get a round-up of the top stories to start your day
Thank you!
Sign up
By signing up, you agree to our Privacy Policy and T&Cs.
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.
Tougher laws to clamp down on money mules who sell bank, Singpass accounts to scammers
‘I just did it for the money’: Why young people become money mules for scammers
Unlock unlimited access to ST exclusive content, insights and analyses
ST One Digital - Annual
$9.90 $4.95 /month
Get offer
$59.40 for the first year and $118.80 per year thereafter.
ST One Digital - Monthly
29.90 $9.90 /month
Subscribe today
No lock-in contract
Unlock more knowledge, unlock more benefits
New feature: Stay up to date on important topics and follow your favourite writers with myST All subscriber-only content on ST app and straitstimes.com Easy access any time via ST app on one mobile device
Join ST's WhatsApp Channel and get the latest news and must-reads.
Scams Singapore crime Singapore courts Police Internet crimes and scams Money laundering Singpass
Facebook Telegram More Whatsapp Linkedin Twitter FB Messenger Email Print Purchase Article Copy permalink https://str.sg/grAu
Read this subscriber-only article for free!
Just sign up for a free account and log in to continue reading.
7 suspected money mules to be charged
Sign up
Already have an account? Log in.
All done! This article is now fully available for you
7 suspected money mules to be charged
Read now
Please verify your e-mail to read this subscriber-only article in full
7 suspected money mules to be charged
Resend verification e-mail
The gift link for this subscriber-only article has expired.
Get unlimited access to all stories at $0.99/month for the first 3 months.
Subscribe now
You have reached your limit of subscriber-only articles this month.
Get unlimited access to all stories at $0.99/month for the first 3 months.
Subscribe now
Read and win!
Read 3 articles and stand to win rewards
Let's go! Terms & conditions apply
Frequently asked questions
Good job, you've read 3 articles today!
Spin the wheel now
Let's go! Terms & conditions apply
Frequently asked questions