A syndicate based in Johor Bahru that allegedly laundered ill-gotten gains from scams was busted by Singapore and Malaysian police.
Twelve Malaysian nationals were arrested in a raid on Aug 9 for their suspected involvement in money laundering activities using Singapore bank accounts.
The Singapore Police Force (SPF) said on Aug 18 that it has been working closely with the Royal Malaysia Police to share critical information on scam cases.
Through investigations and gathering evidence, the two police forces identified a money laundering cell operating in Johor, Malaysia.
Officers from the Johor Commercial Crime Investigation Department of the Royal Malaysia Police raided two locations in Johor on Aug 9 and arrested the suspects.
One of the people arrested, Besmond Huan Yu Kang, 22, was extradited to Singapore on Aug 18 and charged in a district court here on Aug 19.
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SPF said Huan is believed to be responsible for bringing foreigners to Singapore to open bank accounts to launder illegal proceeds from scams.
Huan faces one charge of being part of a criminal conspiracy to obtain online banking credentials, to gain unauthorised access to computer material.
He allegedly conspired with one Tan Kang Yung and other people to obtain the user identification and password of Singapore bank accounts.
Charge sheets did not state how much money was purportedly laundered through these accounts.
Huan is currently remanded. His case will be heard again on Aug 23.
If convicted, he could be jailed for up to three years and fined.
David Chew, director of SPF’s Commercial Affairs Department, described the syndicate as a key player in the illicit movement of funds.
He said the Singapore bank accounts that the syndicate allegedly provided were exploited to launder the proceeds of various scams through Singapore’s financial system.
Chew added that SPF will continue to collaborate closely with its Malaysian counterparts to detect and deter these transnational syndicates.
“There will be no safe haven for those who attempt to abuse the trust and security of our financial institutions,” he said. THE STRAITS TIMES
