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Friday, March 1, 2024
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27 Y.O CHARGED IN COURT FOR MONEY LAUNDERING ACTIVITIES

A 27-year-old man will be charged in court on 12 January 2024 for his suspected involvement in various offences connected to money laundering activities. 

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In March 2021, he allegedly relinquished control of his bank account to another individual by handing over his Internet banking credentials and ATM card. His UOB bank account then received sums amounting in total to S$23,020 between April and June 2021, which were traced to the proceeds of suspected fraud perpetrated overseas.

In May 2021, he allegedly accessed another person’s bank account and withdrew at least S$8,980 from the account, which were traced to the proceeds of suspected fraud perpetrated overseas. After withdrawing the money, he handed them to other individuals in Singapore. 

The man will be charged in court with three counts of possessing property that may be reasonably suspected of being benefits from criminal conduct while failing to satisfactorily account for how he came by the property under Section 47AA(1) of the Corruption Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (“CDSA”) and one count of unauthorised access to computer material under Section 3(1) of the Computer Misuse Act (“CMA”) read with Section 10(1) of the CMA.

Anyone found guilty of possessing property that may be reasonably suspected of being benefits from criminal conduct if the person fails to account satisfactorily how the person came by the property under the CDSA faces imprisonment of up to three years, or fined up to S$150,000, or both. 

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Anyone found guilty of abetting unauthorised access to computer material under the CMA faces imprisonment of up to two years, or fined up to S$5,000, or both.

The Police takes a serious stance against any person who may be involved in money laundering, and perpetrators will be dealt with in accordance with the law. The Police would like to remind members of the public that individuals will be held accountable if they allow their personal bank accounts to be used to receive and transfer monies found to be criminal proceeds.

If you receive or are asked to receive funds from unknown or dubious sources, please contact the Anti-Scam Helpline at 1800-722-6688. Anyone with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness.

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