[SINGAPORE] Four government bodies are working with industry partners to implement new measures against scam mules, they said in a joint statement on Wednedsay (Sep 17).
The Monetary Authority of Singapore (MAS), Infocomm Media Development Authority (IMDA), Government Technology Agency of Singapore (GovTech) and the Singapore Police Force said the measures will include restricted access to facilities that can be exploited to facilitate scams.
Victims in Singapore lost S$456.4 million to nearly 20,000 scams in the first half of the year. The framework for the new measures will be implemented in phases, starting from October 2025.
For a start, scam mules could be hit with restrictions on accessing banking services that could be used to move monies from scams (such as digital banking, card-based transactions and ATM servcies), or be prohibited from subscribing to new mobile lines.
Future phases could include restrictions on access to existing Corppass accounts and the use of Singpass accounts to register for services that are at higher risk of being exploited for scams.
Which restrictions will be imposed and their duration will be determined based on the risks posed by the scam mule, taking into consideration basic financial and communication needs, said the statement.
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Persons who are restricted may be those that were previously warned, issued with composition sums, prosecuted, or convicted of mule-related offences. They could also be persons under investigation for mule-related offences and assessed to be at risk of further facilitating scams.
The statement said scammers rely “heavily” on local facilities to carry out scams, using them through mules. Mule bank accounts are used to electronically move scam monies between different banks and out of the country, it added.
It also warned that scammers are “increasingly exploiting the anonymity features of cryptocurrency” to move monies from scams.
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Not only will the new measures be implemented, sentencing advisory guidelines that recommend enhanced penalties for offenders who commit scam-related offences have also been issued. Mules will face more severe penalties, including imprisonment, said the statement.
