Artikel Pilihan Scam Alert It Is An Offence To Rent Out Your Bank Accounts Scammers Use Them To Launder Illegal Funds
Kuala Lumpur, 16 July 2020 - If you allow someone to use your bank account for illegal purposes, often referred to as “mule bank accounts”, you are breaking the law. Even if you are not directly involved in whatever your “renter” does.
Bukit Aman Commercial Crimes Investigation Department (CCID) Acting Director, CP Datuk Saiful Azly Kamaruddin, in an interview with Malay Mail, said many of those who rent out their bank accounts think what they are doing is not illegal.
Their motive, he said, is to make some quick cash as the scammers pay them for allowing them to use their bank accounts.
He added that these money mules can be charged under Section 424 of the Penal Code for fraudulently concealing monies and Section 29(1) of the Minor Offences Act 1955 for being in possession of stolen goods.
Datuk Saiful Azly said mule account renters advertise on online shopping sites and mobile applications, as well as on social media platforms like Facebook, by using fake profiles.
He went on to explain that these fraudsters target youngsters as they are the most vulnerable; easy to recruit on social media and often short of money.
Read further of Malay Mail article on link provided https://www.malaymail.com/…/bukit-aman-it-is-an-off…/1884928
Source: Malay Mail