SINGAPORE, Nov 28 The Singapore Police Force’s (SPF) Anti-Scam Command froze more than 16,700 bank accounts that were suspected to be involved in scams last year, said the republic’s Home Affairs Minister K. Shanmugam.
In his written reply to a parliamentary question, Shanmugam, who is also the law minister, said the SPF only freezes bank accounts when there is reason to suspect they are involved in criminal activities.
He said SPF does not track whether these accounts belonged to Singaporeans or foreigners, the number of bank accounts frozen due to suspected involvement in crimes other than scams, nor the number of individuals whose accounts were frozen, and they were subsequently prevented from opening other bank accounts.
The minister was asked, among others, since 2022, how many Singaporeans have had an existing bank account frozen on law enforcement grounds; and what banking solutions are available for such individuals so that they can apply for jobs that require e-payment of salary or access government support where payments go into a bank account.
The written reply was posted on the home affairs ministry’s website.
Shanmugam said for individuals whose bank accounts are frozen, banks may decide to offer new accounts, but these may come with restricted access to certain facilities, or to be subject to enhanced monitoring measures.
“Such restricted accounts will still meet the basic banking needs of the individuals, including receiving their salaries and government support.”
Shanmugam noted that banks may decline to offer new accounts if the individuals concerned are deemed to be of high risk, for example, those who have committed serious crimes such as being involved in the financing of terrorism.
He added that individuals whose bank accounts are frozen can make an application to the courts to withdraw money for reasonable living or legitimate expenses.
— Bernama
