SINGAPORE: Over 10 months, a Singaporean man allegedly cheated local banks of over S$2 million by applying for loans using other people’s Singpass accounts.
Goh Woon Tik, 36, is said to have gained access to the victims’ Singpass accounts by deceiving them, such as posing as a bank representative promoting credit cards or a car dealer securing loans on their behalf.
On Aug 17, Goh was charged in a district court with one count of cheating.
Police said they received reports from local banks between November 2023 and August on discrepancies in documents submitted for bank loan applications.
At the same time, police also received reports from victims who discovered that loans had been obtained in their names from local banks without their knowledge or consent.
Said the police on Aug 17: “(Goh) convinced the victims to unknowingly apply for loans using their Singpass accounts by scanning the QR codes or clicking on phishing links.”
Once the loans were approved, the banks disbursed the funds directly to Goh’s personal bank accounts.
The money was disbursed before the discrepancies in documents were discovered.
The repayments were mostly delayed or only partially made, causing huge financial losses to the banks, said the police.
Officers from both Central and Woodlands Police Divisions conducted follow-up investigations and arrested Goh on Aug 15.
Police seized his mobile phone, two laptops and 17 SIM cards.
Goh’s current charge states that on Nov 20, 2023, he cheated Trust Bank into believing that a person had applied for a loan of $32,900.
Due to this deception, Trust Bank disbursed the loan sum to the person’s bank account. Charge sheets did not say how the sum ended up with Goh.
Police said they take a serious stance against anybody who may be involved in scams and frauds, and perpetrators will be dealt with according to the law.
Goh is currently remanded. His case will be next heard in court on Aug 23.
If convicted of cheating, he could be jailed for up to 10 years and fined. - The Straits Times/ANN
