SINGAPORE: Twelve Malaysians have been arrested for their alleged involvement in money laundering using Singapore bank accounts, in a joint operation by the Malaysia and Singapore police in two locations in Johor recently.
The Singapore police said a 22-year-old Malaysian was extradited to the republic yesterday, following a raid conducted by its commercial affairs department (CAD) and the Johor commercial crime investigation department (CCID) on Aug 9.
“A money laundering cell operating in Johor was identified through protracted investigations and evidence gathering.
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.
SPONSORED CONTENT Hajiji says young business professionals' inputs needed to develop Sabah Kota Kinabalu: Chief Minister Datuk Seri Hajiji Noor said he welcomed inputs from young business professionals to assist in policy formulation. Read more The Straits Times reported that the suspect, Besmond Huan, was charged in a district court today.
He allegedly conspired with an accomplice, Tan Kang Yung, and others to obtain user identifications and passwords of Singapore bank accounts.
Huan is currently under remand and his case will be heard on Aug 23. 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 their Malaysian counterparts to detect and deter transnational syndicates who use the internet to commit crimes and launder money.
“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.
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