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12 people arrested for bank malware scam, youngest being just 17

Singaporean authorities arrested 12 people suspected of facilitating banking-related malware scams. The accused allegedly rented out their bank accounts and credentials for monetary gain, enabling hackers to control victims’ devices and execute unauthorised bank transactions. The surge in this cybercrime started in January 2023. The accused will face charges of acquiring benefits from criminal conduct and deceiving banks, with punishments including heavy fines and prison terms.

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