Jail for man in syndicate selling bank accounts that could be used to launder money

An “instrumental player” in a crime syndicate that sold bank accounts will be spending time behind bars after he received, processed and sent to others 34 ATM cards between July and October 2023.

Deputy Public Prosecutor Matthew Choo said Goh Soon Lee had worked with an accomplice identified as Oh Zhi Xiang, 28, and the ATM cards were linked to bank accounts under the names of foreigners holding work permits.

These foreigners’ employers had opened the accounts without their knowledge.

Criminals could then use the bank accounts linked to the ATM cards to launder their ill-gotten gains.

On Jan 2, Goh, 26, was sentenced to three years and six months’ jail and a fine of $3,400 after he pleaded guilty to 10 counts of misusing a computer system.

Twenty-six other charges were considered during his sentencing.

DPP Choo said that, in July 2023, Goh was offered a job opportunity to act as Oh’s middleman by setting up internet banking facilities for bank accounts.

He was told that they would be used for “illegal online gambling”.

Goh, who was promised between $100 and $200 for every bank account he dealt with, accepted the offer.

Court documents stated that he would receive ATM cards, their corresponding personal identification numbers and prepaid SIM cards from couriers arranged by Oh.

These ATM cards were linked to bank accounts under the names of unsuspecting work permit holders.

The DPP said: “Their employers were supposedly informed by an agent who handled the work permit applications for these individuals that they had (asked) for bank accounts to be opened for payroll purposes, when this was not the case.

“The employer would be able to apply for these bank accounts to be opened using the Ministry of Manpower’s Work Permit Online Portal that offered such a service jointly with DBS (Bank) using the employer’s corporate digital identity, Corppass.”

Details about the employers and agent were not disclosed in court documents.

After receiving the ATM cards, Goh would set up internet banking facilities linked to them.

He would then take instructions from Oh and send items such as the ATM cards to the buyers of these accounts, said DPP Choo.

The prosecutor added that Goh also shared with Oh the internet login information linked to them.

Between July and October 2023, Goh handled 34 ATM cards, with an average of 10 cards processed per month. On one such instance in October 2023, Goh sent items that included four ATM cards to a man identified as Lim Guo Hui, 31.

DPP Choo said: “Lim was working as an ‘ATM runner’ for a criminal syndicate, whereby he was required to withdraw monies from bank accounts using the ATM cards provided and hand over monies to individuals as directed by the criminal syndicate.

“Prior to the receipt of the four ATM cards and SIM cards from (Goh), Lim had utilised ATM cards associated with 15 bank accounts and withdrew a total of $435,000, of which $239,870 was traced to be criminal proceeds from victims of a government official impersonation scam.”

The DPP also said the Commercial Affairs Department managed to intercept the delivery of the four ATM cards from Goh to Lim.

Court documents stated that Goh received up to $12,000 from Oh that comprised both his reward for assisting Oh – about $3,400 to $6,800 – and payments received by the buyers of these bank accounts.

Goh then transferred the money received to other accounts as directed by Oh, said the DPP.

Goh was arrested on Oct 23, 2023, and was charged in court that year.

Goh’s bail was set at $15,000 on Jan 2 and he is expected to begin serving his sentence on Feb 17.

Court documents did not disclose the outcome of the cases involving Lim and Oh.

Source: Straits Times © SPH Media Limited. Permission required for reproduction.

ADV: Research Position at Centre for Banking & Finance Law Sias calls for independent professional inquiry into SingPost’s firing of its execs