5 arrested for alleged links to banking-related malware scams

Four men and a woman, aged between 18 and 46, have been arrested for their suspected involvement in a recent spate of banking-related malware scam cases.

- Ang Qing

Malware-enabled scams cost victims a total of $295,000 in the first half of 2024, and $9.1 million during the same period in 2023.

The police, in a Sept 20 statement, said the suspects were rounded up after a week-long islandwide anti-scam enforcement operation involving the Commercial Affairs Department, Bedok Police Division and Clementi Police Division.

A 16-year-old male and a 36-year-old man are also assisting with investigations, they added.

Preliminary investigations revealed that three of the men, aged 18, 19 and 21, allegedly facilitated the scam cases by relinquishing their bank accounts and internet banking credentials or disclosing Singpass credentials for monetary gain.

A 32-year-old man and a 46-year-old woman are believed to have received criminal proceeds in their bank accounts.

The police added that since Aug 30, they have received several reports of banking-related malware scams, where victims would come across advertisements on Facebook promoting the sale of food.