Tougher laws in Singapore in the works to clamp down money mules, Singpass abusers in scams
The Singapore police investigated over 19,000 cases involving money mules from 2020 to 2022, but fewer than 250 of those cases resulted in prosecution.
MHA, together with the Smart Nation and Digital Government Office , said that a large number of money mules could not be charged, due to difficulties in proving their intent to facilitate criminal activities. Until now, many of these money mules escape charges because the prosecution must prove that the money mules know or have reasonable grounds to believe that their bank accounts are linked to criminal activity.To combat this, authorities are proposing new offences, including rash and negligent money laundering, as well as assisting in retaining criminal benefits.
Criminals who obtain Singpass credentials can use them to engage in fraudulent activities such as registering companies, opening bank accounts, and signing up for new phone lines. Those who give away their credentials will be presumed to have broken the law if they receive any gain, know that the disclosure would likely cause wrongful loss, or do not make reasonable efforts to find out the identity and location of the recipient.
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