Letting scammers use your bank account can soon lead to 7 years' jail

 

PARLIAMENT | The government today tabled legal amendments in Parliament that provide stiffer punishments to scammers and account mules - people who rent or sell their bank account access to scammers.

Mule accounts have been one of the main problems authorities face in dealing with online scams.

The amendments would specifically criminalise four offences:

• Section 424A - Owning or controlling someone else’s bank account or payment instrument.

• Section 424B - Giving someone else control of your bank account or payment instrument.

• Section 424C(1) - Unlawful transactions using own account.

• Section 424C(2) - Unlawful transactions using someone else’s account.

• For account mules, Section 424B would see them punished with a fine between RM10,000 and RM100,000, or jailed between one and seven years, or both.

Currently, those who rent or sell out their accounts are charged under different offences such as cheating or abetting a crime.

Those caught can also have their bank accounts closed with their names blacklisted from opening other accounts.

The punishments for scammers under the proposed amendments are:

• 424A - Fine between RM5,000 and RM50,000, or jail between six months and five years, or both.

• 424C(1) - Fine between RM10,000 and RM100,000, or jail between three and 10 years.

• 424C(2) - Fine between RM10,000 and RM150,000, or jail between three and 10 years.

Minister in the Prime Minister’s Department (Law and Institutional Reform) Azalina Othman Said said the bill will be debated in this Parliament session. - Mkini