A 31-year-old man will be charged on 2 November 2021 for his suspected involvement in providing unlicensed cross-border money transfer services, money laundering and obstruction of justice.

In May 2020, the Police received information of payment arising from an alleged overseas fraud being made to an account maintained in Singapore. Investigations revealed that the bank account was one of several third-party bank accounts that the man had purportedly arranged to receive funds from overseas for, and on behalf of a person known to him as “Balla Tiwari”. The man is believed to have carried on a business of providing a payment service without a valid licence when he facilitated the receipt of cross-border money transfers amounting to about $251,000 and subsequent cash withdrawals amounting to about $189,700 via third-party bank accounts between February and May 2020.

The man allegedly handled money that is believed to be the benefits of the criminal conduct of “Balla Tiwari”. Between 14 and 21 May 2020, the man purportedly delivered cash withdrawals amounting to about $94,500 to persons unknown to him. He was also purportedly found to be in possession of about $41,000 which was sent to his DBS account in Singapore by a third party account holder.

Investigations also revealed that the accused had purportedly deleted information in his handphone, including his chatlogs with “Balla Tiwari” and third-party account holders, allegedly to prevent the Police from accessing them, potentially obstructing investigations into his purported arrangement with “Balla Tiwari” and account holders.

The offence of carrying on a business of providing unlicensed cross border money transfer services under Section 5 of the Payment Services Act 2019, carries a jail term not exceeding three years, a fine up to $125,000 or both.

Any individual found guilty of using or possessing any property that may be reasonably suspected of being benefits of criminal conduct under Section 47AA of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act will face a jail term not exceeding three years, a fine of up to $150,000 or both.

Any individual found guilty of obstructing the course of justice under Section 204A of the Penal Code, will face a jail term not exceeding seven years, a fine, or both.

The Police take a serious view of the misuse of the financial system to launder proceeds of crime, and offenders will be dealt with in accordance with the law.

Source: Singapore Police Force