In order to discourage and deter financial scams that involve the abuse of Singpass credentials and bank accounts, a government advisory panel in Singapore has recommended a minimum jail term of 6 months for people who enable fraudsters to use their Singpass credentials and bank accounts.
A CNA report said that the Sentencing Advisory Panel issued guidelines today on six scam-related offences. The guidelines are not, however, binding on court proceedings.
The context: it has come to light in recent months that many, many people in Singapore have been letting scammers use their Singpass or banking credentials to prey on victims. Huge amounts of money have been lost as a result.
In February this year, the Singapore Police Force arrested four people for their suspected involvement in e-commerce scams involving the sale of tickets, mostly to the concerts of Taylor Swift, Coldplay, and others. The total losses caused were about SGD 223,000. “Preliminary investigations revealed that the four persons had allegedly facilitated the scam cases by opening new bank accounts and relinquishing them to the scammers, or relinquishing their Singpass credentials, and bank accounts and/or Internet banking credentials, for monetary gains,” as Connected to India reported.
In June this year, joint operations by the Singapore Police Force and DBS Bank led to the arrest of three people and SGD 1.28 million being seized. “In the police ops with DBS, it was found that the arrested trio sold their Singpass credentials to scammers for SGD 2,000 per account. Using the Singpass credentials, the scammers set up fake sole proprietorships and corporate bank accounts — these were pathways for moving money stolen from victims,” as Connected to India reported.
To prevent such fraudulent use of the Singpass, the advisory panel has recommended some upward revisions in the punishments for those who facilitate scams.
The CNA report said: “In 2023, there were 46,563 scam cases, an increase of 46.8 per cent from 2022, said the panel. Meanwhile, the total amount of money lost by scam victims in 2023 came up to S$651.8 million.”
As per the panel recommendation, a person who hands over the control of his or her bank account to another person, “without taking reasonable steps to ascertain that person’s purpose of accessing, operating or controlling the bank account”, should be jailed for at least 6 months. The present stipulated punishment for this offence is a fine of up to SGD 50,000 or up to 3 years’ imprisonment, or both. The new recommendation makes imprisonment part of the minimum punishment.
Also, as per the panel recommendation, a person who gives up his or her Singpass credentials should also be jailed for at least 6 months. The present stipulated punishment for this offence is a fine of up to SGD 10,000 or up to 3 years’ imprisonment, or both. The new recommendation makes imprisonment part of the minimum punishment.
For both offences — if the panel recommendations are implemented — a person who is convicted cannot get away with only paying a fine; that person must spend at least 6 months in prison. That is expected to be a major deterrence in the sharing of bank account details or Singpass credentials with scammers.
Advisory panel recommendations for four other related offences
● Negligently handing over control of one’s bank account to another person
Recommended: At least 6 months’ jail
Current sentence: Up to SGD 150,000 fine, or up to 3 years’ jail, or both
● Rashly handing over control of one’s bank account to another person
Recommended: At least 12 months’ jail
Current sentence: Up to SGD 250,000 fine, or up to 5 years’ jail, or both
● Handing over control of one’s bank account to another person, while knowing or having reason to believe that this would assist that other person to retain criminal benefits
Recommended: At least 18 months’ jail
Current sentence: Up to SGD 500,000 fine, or up to 10 years’ jail, or both
● Disclosing another person’s Singpass credentials
Recommended: At least 12 months’ jail
Current sentence for first-time offenders: Up to SGD 10,000 fine, or up to 3 years’ jail, or both
Current sentence for repeat offenders: Up to SGD 20,000 fine, or up to 5 years’ jail, or both
“To send a strong deterrent signal, the Guidelines recommend that significant imprisonment sentences should be the norm for scams-related offences involving the handing over of bank accounts or the disclosure of Singpass credentials,” said the Sentencing Advisory Panel today, as per the CNA report. This panel was established in 2022.
