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Bukit Aman: It is an offence to ‘rent out’ your bank accounts, scammers use them to launder illegal funds | Malay Mail

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Bukit Aman: It is an offence to ‘rent out’ your bank accounts, scammers use them to launder illegal funds

Bukit Aman Commercial Crimes Investigation Department acting director, Commissioner Datuk Saiful Azly Kamaruddin during an interview with Malay Mail July 15, 2020. — Picture by Shafwan Zaidon

He added that these money mules can be charged under Section 424 of the Penal Code for fraudulently concealing monies and Section 29 of the Minor Offences Act 1955 for being in possession of stolen goods. The second are those accounts belonging to legitimate customers who have allowed criminals to use their accounts.

Often when a mule bank account is identified, the account owner ends up taking the hit for such crimes while the scammers get away scot-free.

 

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