Singapore Arrests Man in E-Wallet Scheme Used to Move Scam Proceeds
Singapore Police have arrested a 21-year-old man over an alleged scheme in which e-wallets were obtained from work permit holders and then used in scams, with at least S$9,792 in scam proceeds found to have been transacted through the accounts.
According to a Singapore Police Force release dated 26 August 2026, the scheme had allegedly operated since May. Police said the man accessed the Singpass accounts of work permit holders to apply for e-wallets, while the account holders purportedly received S$50 each in return.
Officers from Clementi Police Division conducted an operation between 25 and 26 August to identify the man and the work permit holders involved. The operation led to the man’s arrest.
The man was scheduled to be charged on 27 August with cheating under Section 417 of the Penal Code 1871, an offence punishable by a fine, imprisonment for up to three years, or both. Police investigations into the work permit holders who allegedly sold their e-wallets are continuing for possible abetment of cheating under Section 417 read with Section 109.
The case has a direct financial-crime nexus because the e-wallets were not merely fraud-enabling credentials: Police said scam proceeds were actually transacted through them. The release also warned against handing over bank accounts, e-wallets or Singpass credentials, which can be misused to open bank, e-wallet, crypto and mobile accounts for illegal activity.
The case illustrates how low-value payments for account access can create a supply of payment accounts that criminals can use to receive and move scam proceeds, reinforcing the need for account-opening controls and monitoring for unusual ownership or usage patterns.
