SINGAPORE – Twelve Malaysians have been arrested for allegedly being involved in money-laundering activities using Singapore bank accounts in a joint operation by the Malaysia and Singapore police in two locations in Johor recently.
The Singapore Police Force said following the raid conducted by its commercial affairs department (CAD) and the Johor commercial crime investigation department (CCID) on August 9, a 22-year-old Malaysian was extradited to the republic yesterday.
“Through protracted investigations and evidence-gathering, a money-laundering cell operating in Johor was identified.
“The suspect is believed to be responsible for bringing foreigners to Singapore to open bank accounts to facilitate money-laundering activities relating to scams,” it said in a statement.
The Straits Times reported that the suspect, Besmond Huan Yu Kang, was charged in a district court today.
He allegedly conspired with an accomplice, Tan Kang Yung, and others to obtain the user identifications and passwords of Singapore bank accounts.
Huan is currently under remand and his case will be heard on August 23, the Straits Times reported.
If convicted, he faces a fine and a maximum of three years’ jail.
CAD director David Chew said Singapore police will continue to work closely with its Malaysian counterpart to detect and deter transnational syndicates who use the Internet to commit their crime and launder money through the banking system.
“Scams continue to be of concern. This syndicate, allegedly involved in the provision of Singapore bank accounts for use by the money-laundering cell, was a key player in the illicit movement of funds derived from scams.
“These accounts were used to launder the proceeds of various scams through Singapore’s financial system,” he said.
Chew thanked Johor police chief M. Kumar and officers from the Johor CCID for their support and commitment in tackling transnational crime syndicates. – August 19, 2024