Bukit Aman: It is an offence to ‘rent out’ your bank accounts, scammers use them to launder illegal funds

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Bukit Aman Commercial Crimes Investigation Department acting director, Commissioner Datuk Saiful Azly Kamaruddin during an interview with Malay Mail July 15, 2020. — Picture by Shafwan ZaidonKUALA LUMPUR, July 16 — If you allow someone to use your bank account for illegal purposes — often referred to as “mule bank accounts” — you are breaking the law. Even if you are not directly involved in whatever your “renter” does. Bukit Aman Commercial Crimes Investigation Department (CCID) acting director Commissioner Datuk Saiful Azly Kamaruddin, in an interview with Malay Mail, said many of those who rent out their bank accounts think what they are doing is not illegal. Their motive, he said, is to make some quick cash as the scammers pay them for allowing them to use their bank accounts. He added that these money mules can be charged under Section 424 of the Penal Code for fraudulently …