Charged with money laundering after receiving funds derived from fraud.
05/06/2025
IN SINGAPORE a 41-year-old man will be charged in court on 4 June 2025 for his suspected involvement in offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap 65A, 2000 Rev Ed) (“CDSA”) and the Computer Misuse Act (Cap 50A, 2007 Rev Ed) (“Computer Misuse Act”).
In June 2021, the Commercial Affairs Department commenced investigations after receiving information that
- The man’s bank account had received funds amounting to S$30,208.73 that were reasonably suspected to be derived from a fraud that had been perpetrated against a foreign victim.
Investigations revealed that the man had allegedly entered into an arrangement with an unknown person (“Person X”) to allow the man’s bank account to be used to receive monies.
2019
- In June 2019, the man’s bank account received S$30,208.73 of suspected criminal proceeds on behalf of Person X, and he was unable to explain how he obtained those monies satisfactorily.
- Between July 2019 and November 2019, the man also allegedly acted on Person X’s instructions to access, without authority, two bank accounts belonging to separate individuals via internet banking to effect payments totalling S$121,595 from the bank accounts.
The offence outcomes
- Any person convicted of an offence under Section 47AA of the CDSA may be punished with an imprisonment term of up to three years, a fine of up to $150,000, or with both.
- Any person convicted of an offence under Section 3(1) of the Computer Misuse Act may be punished with an imprisonment term of up to two years, a fine of up to $5,000, or both.
Warning
- The Police take money laundering seriously and will prosecute offenders according to the law.
- Public members should reject requests to receive or transfer money for others, as they may be held accountable if these transactions are linked to criminal activities.
Source
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.