The National Crime Prevention Council (NCPC) has warned the public to beware of giving personal particulars such as identity card and account numbers to unknown persons.
This is in light of the recent increase in cases with regards to illegal money transferring.
According to the police, the number of cases of illegal money transfers have gone up by 40 to 133 in the first nine months of 2013 with at least SGD15.5 million in funds involved.
Fraudsters often acquire a “money mule” by befriending unsuspecting citizens online. Through the relationship, the victims would be coaxed to accept a certain amount of funds into their bank account before being asked to do a bank transfer. In some instances, they will be asked to withdraw the cash and do a hand-to-hand transfer.
Those who commit the offence of transferring illegal money can be jailed up to seven years, fined up to SGD500,000 or both.
Photo: AFP
Source: Yahoo Singapore
fraudsters often befriend Singapore residents through social networking sites or by making them believe they have been recruited as the local representative of a foreign company, the agencies said in the statement. The people are then persuaded to take money into their personal bank accounts, which they then transfer into another bank account or withdraw and deliver to a third party, they said. – See more at: http://www.themalaymailonline.com/world/article/singapore-says-money-mule-cases-increase-as-residents-swindled#sthash.8fqcF2Sx.dpuf
fraudsters often befriend Singapore residents through social networking sites or by making them believe they have been recruited as the local representative of a foreign company, the agencies said in the statement. The people are then persuaded to take money into their personal bank accounts, which they then transfer into another bank account or withdraw and deliver to a third party, they said. – See more at: http://www.themalaymailonline.com/world/article/singapore-says-money-mule-cases-increase-as-residents-swindled#sthash.8fqcF2
Overseas fraudsters often befriend Singapore residents through social networking sites or by making them believe they have been recruited as the local representative of a foreign company, the agencies said in the statement. The people are then persuaded to take money into their personal bank accounts, which they then transfer into another bank account or withdraw and deliver to a third party, they said. – See more at: http://www.themalaymailonline.com/world/article/singapore-says-money-mule-cases-increase-as-residents-swindled#sthash.8fqcF2Sx.dpuf
