12 Malaysians arrested in joint money laundering operation by Singaporean, Malaysian police

SINGAPORE – Twelve Malaysians have been arrested on suspicion of involvement in money laundering activities involving Singaporean bank accounts in a joint operation by Malaysian and Singaporean police at two locations in Johor.

Singapore police said that following a raid conducted by the Commercial Affairs Department (CAD) and the Johor Commercial Crime Investigation Department (CCID) on August 9, a 22-year-old Malaysian was extradited to the republic yesterday.

“Through lengthy investigation and evidence gathering, a money laundering cell operating in Johor was identified.

“The suspect is suspected of bringing foreigners into Singapore to open bank accounts to facilitate money laundering activities related to fraud,” a statement said.

The Straits Times reported that the suspect, Besmond Huan Yu Kang, was arraigned in court today.

He is alleged to have conspired with an accomplice, Tan Kang Yung, and others to obtain the usernames and passwords of bank accounts in Singapore.

Huan is currently in custody and his case will be heard on August 23, the Straits Times reported.

If found guilty, he faces a fine and up to three years in prison.

CAD director David Chew said the Singapore police will continue to work closely with their Malaysian counterparts to track down and deter transnational gangs that use the internet to commit crimes and launder money through the banking system.

“Fraud remains a concern. This syndicate, allegedly involved in providing Singapore bank accounts for use by the money laundering unit, was a key player in the illicit movement of funds derived from fraud.

“These accounts were used to launder the proceeds of various fraud schemes through Singapore’s financial system,” he said.

Chew thanked Johor police chief M. Kumar and officers from the Johor CCID for their support and dedication in tackling transnational criminal syndicates. – August 19, 2024

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