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A 20-year-old man was arrested on Monday (Feb 27) as a result of the arrest of another man believed to be his accomplice, said police.
The former is alleged to have solicited bank accounts for criminal activities from different individuals by paying them a commission for every bank account relinquished.
Police also seized bank cards belonging to another person, as well as electronic devices from the man.
His arrest was the result of extensive investigations following the apprehension of his alleged accomplice in relation to the criminal activities and scam cases with losses amounting to more than $5 million between 2021 and 2022. The latter was charged in court on Feb 25.
The 20-year-old was to be charged in court on Wednesday (March 1) with money laundering, which carries an imprisonment term of up to 10 years, a fine of up to $500,000, or both.
To avoid becoming involved in money laundering activities, you should always reject requests to use your personal bank accounts to receive and transfer money for others.
The Police would like to caution job seekers to be wary of job advertisements that promise unusually high salaries for relatively simple job responsibilities. No legitimate business will require employees to utilise their own bank accounts to receive monies on the business’ behalf.
For more information on scams, you can visit www.scamalert.sg or call the Anti-Scam Hotline 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. All information will be kept strictly confidential.