Suspects Extradited from Malaysia in S$34.1 Million Malware Scam Probe – Fintech Singapore

Two men, aged 26 and 47, will appear in court on 15 June 2024, for their alleged involvement in malware-enabled scams targeting Singaporeans since June 2023.

In 2023, at least 1,899 victims in Singapore were deceived into downloading malware, resulting in losses exceeding S$34.1 million.

The malware allowed scammers to remotely access victims’ devices, stealing personal and banking information to perform fraudulent transactions.

The Singapore Police Force (SPF) identified a multi-jurisdictional operation, with involvement from the Hong Kong Police Force (HKPF) and the Royal Malaysia Police (RMP), to investigate these crimes.

The joint effort led to the arrest of the two suspects in Malaysia on 12 June 2024. They were extradited to Singapore on 14 June.

Preliminary investigations suggest the suspects operated servers to infect Android phones with malicious apps, enabling them to control the devices and compromise bank accounts.

The SPF also collaborated with Taiwan Police, resulting in the takedown of a scam syndicate in Kaohsiung City, and with the HKPF, which dismantled 52 malware-controlling servers and arrested 14 individuals involved in the scams.

The suspects will be charged under the Computer Misuse Act, which could result in fines up to $50,000 and imprisonment up to seven years.

The 47-year-old faces additional charges under the Corruption, Drug Trafficking and Other Serious Crimes Act, with penalties including fines up to $500,000 and imprisonment up to 10 years. Both men will be remanded for further investigation.

Assistant Commissioner of Police Paul Tay said,

“We are grateful for the strong partnership from our Malaysian, Hong Kong and Taiwanese counterparts, which has enabled us to disrupt this criminal operation and prevent further harms to victims.

The SPF would also like to thank the Cyber Security Agency of Singapore for their support. The SPF will spare no effort to go after criminals, even those who operate beyond our borders, and we will continue to work with our foreign law enforcement partners to bring these criminals to justice.”

The public is reminded to download apps only from official stores and to stay vigilant against suspicious requests for app installations.

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• Source: https://fintechnews.sg/97267/security/suspects-extradited-from-malaysia-in-s34-1-million-malware-scam-probe/