2 men, 1 woman arrested for allegedly selling, renting their bank accounts to criminal syndicates

Two men and a woman, aged between 20 and 30, have been arrested for their suspected involvement in perpetrating various scams, the police said in a statement.

These scams include job scams, China officials impersonation scams (COIS), investment scams, Internet love scams, money laundering and facilitating unauthorised access to computer material.

The three individuals are alleged to have sold or rented their bank accounts to criminal syndicates for up to $2,500 per bank account.

Two of them are believed to have cheated banks into opening bank accounts before handing over the ATM cards and iBanking PINs to criminal syndicates.

One person is alleged to have sold his Singpass credentials for $700 to criminal syndicates to create new bank accounts.

The three of them will be charged in court on Wednesday (Mar 29).

The offence of cheating carries a jail term of up to three years and a fine.

Money laundering carries a jail term of up to 10 years, a fine of up to $500,000, or both.

The offence of facilitating unauthorised access to computer material carries a jail term of up to two years, a fine, or both.

"The police take a serious view of persons who may be involved in scams and frauds, and perpetrators will be dealt with in accordance with the law," the police said.