12 suspects who allegedly siphoned cash from victims’ bank accounts using malware arrested in Singapore

During the operation, police seized cash totalling over $13,000, two laptops, 32 bank cards, 23 mobile devices, drug paraphernalia, and a knife. - PHOTO: SINGAPORE POLICE FORCE

SINGAPORE: Twelve men allegedly linked to a money-laundering syndicate believed to be behind a recent spate of banking-related malware cases have been arrested.

On Thursday, the police said they had received numerous reports concerning banking-related malware cases from June to August 2023. They typically involve unauthorised transactions made from victims’ bank accounts, even though these victims did not share their one-time passwords (OTP) with anyone.