Enhancing Awareness among Youths about Risks and Consequences Associated with Becoming Money Mules
Ministry of Home AffairsSpeakers
Summary
This question concerns Mr Yip Hon Weng’s inquiry on enhancing youth awareness regarding money mule risks and collaborative deterrent measures between government agencies and financial institutions. Minister for Home Affairs K Shanmugam highlighted police initiatives like the Criminal Behavioural Analysis Competition and school events such as the Anti-Scam and Cybersecurity Makeathon. He noted that amendments to the Corruption, Drug Trafficking, and Other Serious Crimes (Confiscation of Benefits) Act 1992 will enable firmer enforcement against money mules. Furthermore, the Police and Monetary Authority of Singapore are working with banks to issue enhanced advisories informing customers of their liability if accounts are misused. These efforts aim to educate youths on the legal consequences of facilitating scam operations and prevent them from falling prey to such schemes.
Transcript
21 Mr Yip Hon Weng asked the Minister for Home Affairs (a) how will the Government enhance awareness among youths about the risks and consequences associated with becoming money mules; (b) besides talks and crime exhibits, what other initiatives are being conducted in schools to raise awareness; and (c) what collaborative measures can be taken between Government agencies and financial institutions to deter youths from engaging in such activities, such as raising red flags if an individual opens bank accounts across different banks in a short period of time.
Mr K Shanmugam: The Police conduct public education events to raise awareness among youths on the consequences of crime, including of being a money mule. Among others, the Criminal Behavioural Analysis Competition 2023: Youths Against Scams in July 2023 engaged and educated youths on the preventive actions they can take to protect themselves from falling prey to scams and advised them not to facilitate scam operations.
The Police also collaborate with the Ministry of Education on school talks and other events. For example, the Anti-Scam and Cybersecurity Makeathon in April 2023 encouraged students to come up with ideas to combat scams and improve cybersecurity and help spread anti-scam and cybersecurity messages to their friends and family.
The Corruption, Drug Trafficking, and Other Serious Crimes (Confiscation of Benefits) Act 1992 (CDSA) was amended earlier this year. It will enable the Police to take firmer enforcement action against money mules when it comes into effect.
The Police and the Monetary Authority of Singapore have been working with banks to inform their customers, including youths, on the amendments, to deter them from becoming money mules, for example, by enhancing the current advisory that is provided to customers when they open a new bank account. The enhanced advisory will reinforce the message that customers may be liable if their accounts are used by others for criminal activities, in line with the latest CDSA amendments.