Two Malaysians nabbed for scam involving compromised Singpass accounts to create LiquidPay e-wallets
Two Malaysian nationals were arrested in Singapore for allegedly exploiting customer Singpass credentials to create fraudulent e-wallet accounts. These accounts were reportedly used to launder over $110,000 in scam proceeds.
Why it matters
The incident highlights the growing threat of identity theft and digital fraud targeting government-linked authentication systems in the fintech sector.
SINGAPORE: Two Malaysian mobile phone shop employees were arrested on Tuesday (Aug 25) for their suspected involvement in a scheme to register bogus e-wallet accounts for receiving scam earnings, said the police.
The report is a straightforward account of a police investigation and criminal charges.
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