A money laundering syndicate based in Johor Bahru has been dismantled following a coordinated operation by the police forces of Singapore and Malaysia. The raid, conducted on August 9, resulted in the arrest of twelve Malaysian nationals suspected of laundering proceeds from various scams through Singapore bank accounts.

On August 18, the Singapore Police Force (SPF) announced that it has been collaborating with the Royal Malaysia Police to share vital intelligence regarding scam operations. Their joint investigation led to the identification of a money laundering cell operating out of Johor.

During the raid, officers from the Johor Commercial Crime Investigation Department arrested the suspects at two locations. Among those arrested was Besmond Huan Yu Kang, a 22-year-old who was extradited to Singapore on August 18 and charged in a district court on August 19.

Allegations and Charges
Huan is accused of facilitating the opening of bank accounts in Singapore for foreigners, allegedly to launder illegal proceeds from scams. He faces a charge of conspiracy related to obtaining online banking credentials and unauthorized access to computer material.

According to court documents, Huan allegedly worked with an individual named Tan Kang Yung and others to acquire user identification and passwords for Singapore bank accounts. The charge sheets did not specify the total amount of money that was reportedly laundered through these accounts.

Huan is currently in custody, with his next court appearance scheduled for August 23. If convicted, he could face a prison sentence of up to three years and a fine.

Implications
David Chew, director of SPF’s Commercial Affairs Department, characterized the syndicate as a significant player in the illicit movement of funds. He noted that the syndicate’s actions exploited Singapore’s financial system to launder the proceeds of various scams.

Chew affirmed the commitment of the SPF to work closely with Malaysian authorities to identify and prevent transnational crime syndicates, stating, “There will be no safe haven for those who attempt to abuse the trust and security of our financial institutions.”