SINGAPORE — Three men have been charged for allegedly handing over control of their bank accounts to criminal syndicates that used them to launder scam proceeds, police said.
The accused are Muhammad Danish Aqid Azman, 21, Mohamed Rizan Abdul Majeed, 43, and Deebenraj M. Sivakumar, 30. All three were charged on Nov 3 and are among 17 suspects arrested for their suspected roles in a string of scams that caused over $1.6 million in losses.
The group included 14 men and three women, aged between 17 and 45. The remaining suspects are expected to be charged between Nov 4 and 7.
Scams and Charges
Police said the scams involved government official impersonation, investment fraud, and fake buyer schemes.
The three men were charged with:
Providing unauthorized access to a bank account
Assisting another person to retain criminal benefits
Additionally, Muhammad Danish Aqid faces an extra charge of cheating.
Court documents show that Deebenraj’s bank account was used to move nearly $37,000 in illegal funds, while the amounts laundered through the other two accounts were not disclosed. Both Muhammad Danish Aqid and Mohamed Rizan allegedly handed over control of their accounts in January 2024, while Deebenraj did so in October 2024.
The court heard that Deebenraj plans to plead guilty, while Muhammad Danish Aqid may face further charges. All three men have been released on bail.
Police and Policy Updates
Preliminary investigations found that some suspects sold or gave up their bank accounts and Singpass credentials, enabling syndicates to launder illicit funds.
Authorities said these offenders will face restrictions on digital and mobile banking, ATM access, and card-based transactions to prevent further misuse.
Since 2019, Singapore has lost more than $3.4 billion to scams. Victims lost a record $1.1 billion in 2024, with another $600 million lost between January and August 2025 alone.
Currently, those convicted of allowing their bank accounts or Singpass credentials to be used in scams face up to three years in jail and a $50,000 fine. Following 2024 recommendations, such offenders typically receive at least six months’ jail time.
In October 2025, Parliament proposed introducing discretionary caning — up to 12 strokes — for serious money mule offenses.
