SINGAPORE – A 25-year-old man can be charged in courtroom on Friday (March 25) over alleged cash laundering and offering cost providers with out a licence.
The man is alleged to have accessed a number of financial institution accounts, opened within the names of various people between December 2020 and March final yr, mentioned the police in an announcement on Thursday.
He is claimed to have withdrawn a minimum of $28,350 from these accounts. He then allegedly handed the funds to different people in Singapore
The funds are believed to be illicit proceeds from fraud dedicated abroad.
The man will face two costs – one for the offence of buying felony advantages of one other particular person, and one other for abetting an offence of carrying on a enterprise of offering cost providers with out a licence, mentioned the police.
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An individual discovered responsible of buying advantages from felony conduct faces a jail sentence of as much as 10 years, a high quality of as much as $500,000, or each.
For offering a cost service with out a licence, an individual may be jailed for as much as three years, fined as much as $125,000, or each.
The police have mentioned that they take a critical stance in opposition to those that could also be concerned in scams and suggested the general public to reject any request by others to make use of their financial institution accounts as they are often held accountable if the accounts are linked to crimes.
Those who obtain or are requested to obtain funds from an unknown or doubtful supply are suggested to name the Anti-Scam Helpline on 1800-722-6688.
Anyone with data on such scams might name the police hotline on 1800-255-0000 or submit information online.
