Singapore: On Tuesday (July 19th), a man was accused of being involved in an OCBC phishing scam targeting bank customers during a holiday last year.
Mark Teo Sin Yan, 31, said he allowed an unknown person to send and withdraw criminal proceeds using a UOB bank account named “Royals Beaute” between November and December 2021. I have been accused.
He was pleaded guilty to helping others retain the interests of criminal activity. This can result in imprisonment of up to 10 years, a fine of up to S $ 500,000, or both.
Theo was previously charged with other crimes such as criminal intimidation, misconduct, false information to police officers, and road traffic law violations.
He will return to court later this week for a pre-trial meeting.
Police previously stated that the victim of the fraud filed a police report on December 26, 2021 after discovering more than S $ 100,000 in fraudulent transactions.
Preliminary investigations have revealed that more than S $ 18,000 of the victim’s money has been transferred to UOB’s corporate bank account.
According to police, Theo used his CorpPass credentials to open a corporate account for a locally established company in November 2021.
He is then suspected of abandoning his bank account to an unknown person for financial gain.
Over S $ 4 million passed through bank accounts in several high-value transactions from 20th December to 27th December 2021.
At least 14 people were arrested in connection with the OCBC phishing scam.
Earlier this month, a 21-year-old man was first treated in court among those accused of being involved in fraud.
Leong Jun Xian has been sentenced to at least one year of innovative training to provide money laundering services to suspicious overseas syndicates.
According to banks in January, OCBC phishing scams lost a total of S $ 13.7 million. He added that “goodwill payments” are being made to repay the full amount to the affected customers.