$250k seized, 3 arrested in scam money moving bust

Angelica Ang for The Straits Times

Dec 07, 2024 07:00 am

A 40-year-old man was arrested on Dec 5 on suspicion of moving large amounts of money for scammers. Cash totalling more than $217,000 and two mobile phones were seized.

He was nabbed after two other men were arrested on the same day, also for moving scam proceeds, the police said in a release on Dec 6. Two mobile phones, 51 bank cards and $34,700 in cash were seized.

The duo allegedly withdrew money – believed to be from scams – from several compromised bank accounts which did not belong to them. They then deposited the money into other bank accounts, or handed it to couriers or runners arranged by syndicates.

They will be charged in court on Dec 7 for unauthorised access to banks’ computer systems.

Police investigations are ongoing.

To learn more about scams, go to scamalert.sg or call the Anti-Scam helpline at 1800-722-6688. To report information on scams, call 1800-255 0000, or go to www.police.gov.sg/i-witness.