Govt seeks harsher penalties for mule account holders, renters in crackdown on scams; jail term up to 10 years, RM150,000 fine

by Theleaders | July 9, 2024 11:18 am

KUALA LUMPUR, July 9 — The government today tabled amendments to the Penal Code and Criminal Procedure Code that provides harsher punishments for anyone who allows someone else to use their bank accounts for illegal purposes, such as for scams.

Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said told the Dewan Rakyat that the Bill will be debated this Parliament session.

Currently, Section 424 of the Penal Code provides a maximum five sentence of five years, a fine, or with both, for those convicted of dishonestly or fraudulently assisting in the release of any demand or claim.

But if the amendment passes Parliament, the new punishments will see the jail term double to a maximum of 10 years, and a fine up to RM150,000, or both for anyone found guilty of allowing their bank accounts to be used for scams or other illegal purposes.

The proposed changes to the law targets four offences:

Section 424A (owning or controlling someone else’s bank account or payment instrument)
Section 424B (Giving someone else control of your bank account or payment instrument)
Section 424C(1) (Unlawful transactions using own account)
Section 424C(2) (Unlawful transactions using someone else’s account).

Punishment for account mules under the proposed amendments is Section 424B would see them punished with a fine between RM10,000 and RM100,000, or jailed between one and seven years, or both.

As for scammers, the amendments are to these provisions:

424A (Fine between RM5,000 and RM50,000, or jail between six months and five years, or both)
424C(1) (Fine between RM10,000 and RM100,000, or jail between three and 10 years)
424C(2) (Fine between RM10,000 and RM150,000, or jail between three and 10 years).

Source URL: https://theleaders-online.com/govt-seeks-harsher-penalties-for-mule-account-holders-renters-in-crackdown-on-scams-jail-term-up-to-10-years-rm150000-fine/