Press Digest - Police to arrest over 20,000 'money mules'

PETALING JAYA: More than 20,000 persons can be hauled by the police anytime for acting as "money mules" by allowing their bank accounts to be used to launder money.
Police disclosed that in the last three years, 21,071 bank accounts were suspected to have been misused to help online scammers to perpetrate their crimes.
These "money mules" will have to take the responsibility for "loaning" their accounts and can be put behind bars if found guilty of misusing their accounts.
According to a report in Sin Chew Daily today, police are expected to take action, including making arrests under Sections 403, 420 and 424 of the Penal Code, or explore the possibility of barring these account holders from leaving the country.
Most of these "money mules" are drug addicts, prostitutes, people who have lost their jobs and female companions of scammers of African descent.
There are also job-seekers who are sucked into the illegal activities unwittingly.
Commercial Crimes Investigation Department deputy director (Cyber and Multimedia Crimes) SAC Mohd Kamarudin Md Din told the daily in an interview that in view of the increasing number of money mules, police felt the need to work with banks and the relevant authorities to come up with a solution.
Some people do not attach much importance to their accounts and simply "loan" or "lend" them to third parties, while others allowed their accounts to be misused for the handsome return offered by the scammers, he said.
"More than RM100 million is lost every year due to such scams and most of the money goes out of the country, which is a loss to the country," he said.
Kamarudin said police have already discussed with Bank Negara Malaysia on the need for banks to impose a condition requiring those opening accounts not to allow their accounts to be misused.
"We suggested that banks add a clause to make account holders accountable for any movement of money through their accounts. And that account holders proven to be money mules be banned from opening accounts with any bank."