10 people, including 16-year-old youth arrested for suspected involvement in malware scams

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10 people, including 16-year-old youth arrested for suspected involvement in malware scams
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The suspects had allegedly facilitated the scam cases by relinquishing their bank accounts, Internet banking credentials and/or disclosing Singpass credentials for monetary gains.

In an island-wide anti-scam operation, the Commercial Affairs Department and Police Intelligence Department arrested nine men, aged between 18 to 43, and a 16-year-old youth for their suspected involvement in a recent spate of banking-related malware scam cases.

This weakens the phones' security and allows the scammer to take full control of the phones so scammers can log every keystroke and steal banking credentials stored in the phones and allows the scammer to remotely log in to the victims' banking apps, add money mules as payees, raise payment limits and transfer monies out to money mules.

Besides downloading apps from official app stores, they recommend checking the number of downloads and user reviews before clicking on the install button. If found guilty of acquiring benefits from criminal conduct, the suspects can be jailed for up to 10 years, fined up to $500,000, or both.

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