SINGAPORE: Two men will be charged on Monday (March 21) for providing their Singpass login details and handing over their bank accounts to “unknown persons in exchange for convenient money”, police said on Friday.
The two men, aged 19 and 25, had seen ads on Telegram and Instagram offering them cash in exchange for their Singpass details.
“Their Singpass details were allegedly then used by the fraudulent syndicate to open bank accounts,” police said.
“The bank accounts they gave up, as well as bank accounts opened by the group, were allegedly used for money laundering.”
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The investigation revealed that in early 2021, the 19-year-old man allegedly disclosed his Singpass login details after responding to a story on Instagram asking if anyone was interested in making some quick cash.
Police said his details were used to gain access to his Singpass account and to open three bank accounts with Citibank and CIMB.
The bank accounts were then used to launder the proceeds of crime totalling more than S$77,000.
“Furthermore, he was allegedly approached by a member of a scam syndicate on Telegram asking for the sale of his bank account,” police said.
He created a Standard Chartered bank account and allegedly handed control of the account to the group.
He will also be charged for allegedly handing over his personal UOB account to an online gambling syndicate in exchange for cash.
Telegram ad offers cash for SINGPASS details
Investigations revealed that in August last year, the 25-year-old saw an ad on Telegram offering him cash in exchange for his Singpass details.
After he handed over his Singpass login details, a consortium was able to register a Standard Chartered bank account in his name.
The bank account was used to launder more than S$850,000 in criminal proceeds, including work scam proceeds.
The man also allegedly sold his OCBC account for “quick cash” to members of another syndicate he met on Telegram last September.
The bank account was used to launder the proceeds of crime amounting to S$55,000.
“Disclosure of Singpass login details and transfer of bank accounts to others may constitute an offence under the Computer Misuse Act,” police said.
“The disclosed Singpass login details may be used by criminal groups to access Singpass accounts and open bank accounts, which are then used to launder criminal proceeds.
“To avoid becoming involved in money laundering, members of the public should always refuse requests to disclose their Singpass login details or to allow their personal bank accounts to be used to collect and transfer money for others.”
First-time offenders can be jailed for up to three years, fined up to S$10,000, or both, if found guilty of leaking their Singpass login information.
These individuals could be jailed for up to two years and/or fined up to S$5,000 for allegedly relinquishing control of bank accounts
