12 suspects nabbed over scam-linked money laundering involving $2m

Eleven men and a woman, all aged between 17 and 30, were arrested last week for suspected involvement in scam-related money-laundering activities involving more than $2 million.

During a three-day operation between Wednesday and Friday, islandwide raids were conducted to nab the 12, said the police in a statement on Saturday.

Another 11 men and three women, all aged between 17 and 67, are assisting with investigations.

These 14 individuals had allegedly handed over their personal bank accounts to scammers or relinquished their Singpass accounts, which were then used by the scammers to open bank accounts.

The suspects are being investigated for helping with unauthorised access to computer material and cheating.

The police said money mules help scammers by receiving and transferring proceeds of scams through their bank accounts, or by surrendering their bank accounts to scammers.

Money mules play a key role in scams, as scammers rely on these bank accounts as conduits for their ill-gotten gains, the police added.

To avoid becoming involved in money-laundering activities, members of the public should always reject requests if others ask to use their personal bank accounts, the police said.

They should also avoid relinquishing their Singpass accounts to others, as scammers are able to use those accounts to access various digital facilities, including opening bank accounts.

People found guilty of facilitating unauthorised access to computer material can be jailed for up to two years and fined. Those convicted of unlawfully disclosing access codes can be jailed for up to three years and fined.

Individuals convicted of cheating can be jailed for up to three years and fined.