A 32-year-old man was charged on Wednesday (April 27) with conspiring to cheat a local bank by opening a corporate bank account that a criminal syndicate then used to launder illicit proceeds.
The bank account was, among others, used by criminals to launder $600,000 that had been cheated from a 61-year-old Singaporean man in a China officials impersonation scam, the police said on Wednesday.
The accused, Mohamed Syazwan Abdul Aziz, is said to have aided unknown individuals in gaining unauthorised access to the bank’s computer system by giving them the login details of his corporate account.
The police said the scam victim received a call in April last year from someone posing as a local bank staff member.
“The victim was informed that his personal information had been used to apply for a credit card in China,” they added.
The call was then routed to the “Chinese police” who accused him of transnational money laundering activities.
The victim was told to assist in investigations by providing the Internet banking credentials of his four bank accounts in order to prove his innocence.
The scammers then transferred $600,000 out of his bank accounts to those under their control.
Mohamed Syazwan’s corporate bank account was among those that received the victim’s funds.
Police investigations found that in February last year, he had also allowed an acquaintance to register for a bank account in his name.
“To avoid involvement in money laundering activities, members of the public should always reject requests to share the use of their banking facilities to receive and transfer funds,” the police said.
They also warned against disclosing Singpass login details, which can be misused for unlawful transactions.
For conspiring to cheat a bank into opening a bank account, an offender can be jailed for up to three years and fined.
The offence of aiding others to secure unauthorised access to a bank’s computer system carries a maximum penalty of a two-year jail term and a $5,000 fine.
Members of the public who wish to provide information related to scams can call the police hotline on 1800-255-0000 or submit it online at this website.
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