Singapore arrests three teens, including a Malaysian, in US$2.89m business e‑mail scam
SINGAPORE, April 25 — Police in Singapore arrested three teenagers, including a Malaysian, over their suspected involvement in a US$2.89 million (RM11.4 million) business e‑mail compromise scam.
Investigators found that the trio — two Singaporeans aged 19 and 16, and a 19‑year‑old Malaysian — conspired with a syndicate in Malaysia to set up shell companies in March and April, opening DBS corporate bank accounts to receive illicit proceeds, according to The Straits Times.
The suspects duped a US fund remitter into transferring US$2.89 million to one of the corporate accounts, police said.
DBS staff raised the alarm on April 22 when one account holder attempted to withdraw US$2.56 million, prompting officers from the Anti‑Scam Command to intervene.
The remainder of the funds had already been wired overseas.
Singapore Police Force’s Anti-Scam Command contacted Interpol, which then informed the US remitter of the fraud.
Police arrested the corporate account holder in Woodlands on April 23, with the other two teens detained later the same day.
The two 19‑year‑olds will be charged with assisting another to retain benefits from criminal conduct.
If convicted, they face up to 10 years in prison, a fine of S$500,000 (RM1.5 million), or both.
Investigations into the 16‑year‑old are ongoing.
Police withheld specifics on the scam variant, which typically involves cybercriminals posing as executives, employees or vendors in e‑mails to cheat companies.
Authorities warned that scammers and syndicate members face mandatory caning of at least six strokes and up to 24 strokes.
