SINGAPORE: Two Malaysian mobile phone shop employees were arrested on Tuesday (Aug 25) for their suspected involvement in a scheme to register bogus e-wallet accounts for receiving scam earnings, said the police.<\/p>\n
The two men, aged 25 and 47, are suspected to have exploited the identities of their customers by obtaining their Singpass login credentials to create LiquidPay e-payment accounts without their knowledge, the police said in a news statement on Aug 26.<\/p>\n
LiquidPay is a digital wallet and payment app operated by Singapore-based fintech company Liquid Group.<\/p>\n
In one instance, one of the suspects, in offering to help a customer who was buying a SIM card update his Singpass details, used the opportunity to create a LiquidPay account.<\/p>\n
Further investigations found more than 170 Singaporeans and foreign workers whose Singpass accounts were linked to similar activity, said the police.<\/p>\n
These fraudulently obtained Singpass accounts were used to register more than 160 additional LiquidPay accounts without the account holders\u2019 knowledge.<\/p>\n
Since early March 2026, at least 20 Singapore citizens and work permit holders have been investigated for their involvement in registering LiquidPay accounts that had been reported to receive $110,063 arising from various scams, the police said.<\/p>\n
The two Malaysians arrested on Aug 25 are suspected of being part of a syndicate that compromises Singpass accounts, after an operation led by the police\u2019s Cyber Command officers with support from the Singpass Trust & Safety team at the Government Technology Agency of Singapore.<\/p>\n
The suspects will be charged in court on Aug 27 for assisting another to retain benefits from criminal conduct, an offence that carries a prison term of up to 10 years, a maximum fine of $500,000 or both.<\/p>\n
Police investigations into Singpass users voluntarily relinquishing their account credentials are ongoing, with the offence carrying a maximum penalty of a three-year prison term and a $10,000 fine. – The Straits Times\/ANN<\/p>\n
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