In order to evade the law enforcement officers, the fraudulent syndicates usually use the bank accounts of third parties for money transfer and remittance. The Malaysian police have warned that people who lend their bank accounts to these unscrupulous groups can face up to five years in jail.
In recent years, many people have held press conferences to complain that they were tricked into opening a bank account or “renting” a bank account to a company. When a company cheats money, it does not remit the money into its own account, but remits the cheated money, the stolen goods into the “rented” account. Once the police investigate, the real mastermind is also easier to get off. As a result, people who are greedy for “rental fees” become criminals and are charged.
The police found that more and more people are renting their personal bank accounts to criminal syndicates as a tool to do the crime, from the hands of criminal syndicates to get hundreds to more than RM 1,000 “rental fee”. Therefore, the police reminded the public not to rent their personal bank accounts to a third party, once it is confirmed that the bank account as a tool for criminal syndicates, the bank account owner will face imprisonment of up to 5 years and a fine.
Once the police pursue the case, even though you do not know the circumstances or emphasize that you only lent the account to a friend. But as long as you can’t explain the transfers in the account, and you are the account owner, you will be dealt with.
Consequences of lending your bank account to make money
A Lori driver from Sungai Morneau, Selangor, Mr. Tan thought he could pocket RM1600 every month by lending his bank account. Unexpectedly, the bank account Bank Account was used in social media fraud, he was charged with at least 4 cases of fraud in Sungai Da Nang, pleaded guilty and fined RM6000, the police told other states there are 13 similar cases waiting for him.
Mr. Tan was recently introduced to a Chinese man named Kevin by a friend on WeChat, who said he was in the online buying and selling business, mainly buying shoes and clothes on his behalf. He said he would pay him RM1600 per month as commission if he opened a bank account and lent it to him. He agreed to Kevin’s proposal because he was in a hurry to pay his car insurance, but he didn’t expect to get into trouble.
He received a total of 5 Debit Cards, but only used 3 of them, transferring an average of RM2,000 to RM3,000 per day.
He found out that the total amount of money transferred from the three accounts was RM145,000. He first contacted Kevin, but his phone number was deleted.
In addition, Ms. Wang from Kuala Lumpur Kepong is in a difficult financial situation, and trusted an unknown man to borrow bank accounts to earn extra money, and may face jail time.
