38-year-old man arrested for money laundering offences

SINGAPORE: A 38-year-old man will be charged in court on Wednesday (Sep 13) for money laundering offences, after he allegedly cheated victims of online scams and facilitated the transfer of the funds out of Singapore.The offences were committed in April and May, according to the police in a news release on Tuesday. The suspect had instructed five victims of online scams to transfer money amounting to S$36,000 to various bank accounts.

He then acted as a money mule, transferring the money out of Singapore as instructed by a friend in Malaysia, said the police. The suspect was arrested on May 22 at the Woodlands Checkpoint.
For the charge of dishonest receipt of stolen property, he faces a jail term of up to five years and a fine if convicted. The maximum penalty for a money laundering offence is a 10-year jail term and a fine of up to S$500,000.Source: CNA/ad

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