Sheng Siong suspended PayNow withdrawals from teller machines over money laundering concerns
The scheme was discovered after Sheng Siong noticed large cash withdrawals being made simultaneously from multiple $TMs across Singapore by the same PayNow account. PHOTO: SHIN MIN DAILY NEWS
SINGAPORE - A new money laundering scheme caused Sheng Siong to temporarily suspend PayNow cash withdrawals from its Simple Teller Machines ($TMs) recently .
The withdrawal service allows users to scan a PayNow QR code at the machines to withdraw cash of up to $1,000 per transaction.
But since early June, criminals appear to have been abusing the service to launder illicit funds, causing the supermarket chain to temporarily suspend the service from June 19.
It was only restored on June 23.
The scheme was discovered after Sheng Siong noticed large cash withdrawals being made simultaneously from multiple $TMs across Singapore by the same PayNow account on June 18.
When the same account was used to withdraw more cash on June 19, Sheng Siong staff detained the persons who had taken the cash and called the police.
Four males, aged 16 to 23, were charged on June 21 in relation to the scheme.
They are believed to have responded to 'fast cash job' advertisements on Telegram.
The supposed job required them to go to the $TMs and use it to generate PayNow QR codes, which they took photos of and sent back to the Telegram group.
Shortly after, the machine would dispense the cash, which they were to take and hand over to another person.
It is believed criminals in the Telegram group were using compromised bank accounts to make the PayNow payments remotely via the photos of the QR codes.
On June 26, the police took two of the accused persons back to $TMs in Sengkang and Tampines.
Muhammad Noraidilsahiq Muhammad Norasif, 20, allegedly withdrew $8,000 from the machine on June 19 at the Sheng Siong outlet at Sengkang West Avenue, which he was taken back to for investigations.
Muhammad Noraidilsahiq Muhammad Norasif allegedly withdrew $8,000 from the machine on June 19 at the Sheng Siong outlet at Sengkang West Avenue.
PHOTO: SHIN MIN DAILY NEWS
He faces one charge under the Penal Code for receiving the stolen property.
Muhammad Izz Iryan Mod Ali, 23, was allegedly found with $20,300 that were benefits of criminal conduct.
He was taken to the $TM at the Sheng Siong outlet at Tampines Street 86 and faces one charge under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.
Muhammad Izz Iryan Mod Ali was allegedly found with $20,300 that were benefits of criminal conduct.
PHOTO: SHIN MIN DAILY NEWS
His 18-year-old brother, Muhammad Izz Irshad Mod Ali, is also one of the accused persons.
He allegedly took $4,000 of cash from the $TM at the Sheng Siong outlet at Jurong West Street 42 between June 9 and June 13.
He faces one charge under the Penal Code for receiving the stolen property.
The fourth person charged is a 16-year-old who allegedly took $19,500 from the $TM at the Sheng Siong outlet at Serangoon North Avenue 5 on June 18 and 19.
He also faces one charge under the Penal Code for receiving the stolen property.
All four have been remanded and their cases are expected to be heard again on June 27.
Sheng Siong's customer and operations director, Mr Lin Zikai, told the media on June 26 that Sheng Siong had noticed the abnormal withdrawals on June 18 and suspended the service on June 19.
The service was only restored on June 23 after it implemented an additional safeguard limiting the maximum number of transactions per PayNow account to five.
There are more than 60 $TMs islandwide at Sheng Siong outlets.
The withdrawal service allows users to scan a PayNow QR code at the machines to withdraw cash of up to $1,000 per transaction.
PHOTO: SHIN MIN DAILY NEWS
Mr Lin said before this, users could make cash withdrawals of up to $1,000 per transaction, but the number of transactions was limited only by the PayNow account's limit.
While the default daily limit for PayNow transactions is $1,000, users were able to change it to a maximum of $200,000.
This meant they could make up to 200 transactions of $1,000 each daily .
With the new safeguard, the maximum withdrawal from a single PayNow account is now capped at $5,000.
Mr Lin said: 'This case was actually detected by our Sheng Siong HQ office. They realised there were multiple transactions from the same (PayNow) user at different outlets at the same time.
'That's when we contacted the bank and made a police report.'
Those convicted of receiving stolen property can be jailed for up to five years and fined.
Join ST's WhatsApp Channel and get the latest news and must-reads.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AsiaOne
an hour ago
- AsiaOne
Teens behave erratically after allegedly using drug-laced ‘Kpods' in Punggol, Singapore News
Several teenagers were spotted behaving erratically after allegedly using drug-laced 'Kpods' vaporisers outside a mall in Punggol. According to Shin Min Daily News, the incident reportedly occurred on Tuesday (June 24) at around 1am. In a video uploaded to Sgfollowsall Instagram on June 24, youths could be seen stumbling unsteadily, walking in a zombie-like manner, with one collapsing and another struggling to walk straight after allegedly using the drug-laced vapes. Unlike regular vape liquids, the Health Sciences Authority (HSA) has warned that 'Kpods' contain etomidate — an anaesthetic agent classified as a poison under the Poisons Act. According to the person who recorded the video, the incident took place at Punggol Waterway. The person also reportedly called the police after leaving the scene. View this post on Instagram A post shared by Sgfollowsall (@sgfollowsall) When Shin Min visited the scene on June 24, they observed that the incident took place not far from Punggol MRT Station. Shin Min quoted teenagers as saying that the area, known for its spaciousness and convenience, is a popular hangout spot among youngsters. However, none of them recognised the youths featured in the video. Nearby shop owners also told the Chinese daily that the area is a popular gathering spot for youths, especially after 8pm. The shop owners also noted that teenagers frequently gather there to smoke e-cigarettes, ride bicycles, and eat, with crowds sometimes swelling to as many as 50 people. In the comments section of the video post, several netizens have also expressed concern about the growing trend of vaping among teenagers. One netizen highlighted the serious dangers associated with 'Kpods', while another expressed hope that more support and intervention would be provided for the affected youths. Under the Tobacco (Control of Advertisements and Sale) Act, purchase, possession and use of e-vaporisers are prohibited, including purchases made through the internet and from overseas. Offenders can be fined up to $2,000, and those possessing or using pods containing etomidate can face a maximum penalty of imprisonment for up to 2 years and a fine of up to $10,000 under the Poisons Act. [[nid:716393]]
Straits Times
2 hours ago
- Straits Times
Seoul subway fire: Man, 67, charged with attempted murder, arson
The man, a 67-year-old surnamed Won, had on May 31 allegedly set a train carriage ablaze. PHOTOS: THE KOREA HERALD/ASIA NEWS NETWORK A man was charged on June 25 with attempted murder and arson, among other charges, after he allegedly started a fire on a subway train in Seoul in May. The man, a 67-year-old surnamed Won, had on May 31 allegedly set a train carriage ablaze, resulting in estimated damages of over $300 million won (S$281,484) and endangering the lives of nearly 160 commuters on board. 'Spraying a large amount of gasoline on a subway used by an unspecified number of passengers and then setting it on fire, causing a large-scale fire and spreading toxic gases, is an act of murder tantamount to terrorism,' said the prosecution, as reported by Korean news agency Yonhap . 'If the evacuation had been delayed, the possibility of casualties would have been very high.' Yonhap reported that six people were injured, and 23 others, including Won himself, taken to the hospital for smoke inhalation following the incident. The fire destroyed part of one subway car, with smoke damage to two others. The man was also charged with violating the Railroad Safety Act, reported Korean newspaper Korea JoongAng Daily . Surveillance camera footage of the incident showed a man emptying a bottle of petrol onto the floor of a train carriage, reported Yonhap. Passengers can be seen attempting to flee, as the man ignites the petrol with a lighter. Won was arrested shortly after the incident. Korean media had previously cited the police as saying that the man had started the fire out of spite towards the Korean court's decision about his recent divorce the month before. Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
3 hours ago
- Straits Times
China urges Philippine military to refrain from ‘malicious accusations' over drugs trade
'China has the toughest resolve and policy against drugs and we have one of the best counternarcotics track records in the world,' the Chinese embassy said. PHOTO: REUTERS China urges Philippine military to refrain from 'malicious accusations' over drugs trade HONG KONG – The Chinese embassy in the Philippines on June 26 urged 'certain individuals within the Philippine military' to refrain from 'malicious accusations' after a Philippine military spokesman linked China to a recent influx of drugs. 'It is not far-fetched that this be another effort of the Chinese Communist Party to destroy the future generation of Filipinos by flooding our country with illicit drugs,' Navy spokesman Rear-Admiral Roy Vincent Trinidad told reporters on June 24. 'China has the toughest resolve and policy against drugs and we have one of the best counternarcotics track records in the world,' the Chinese embassy said. 'We firmly oppose the baseless and malicious accusations made by certain individuals with intention to smear China,' it added. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
