SINGAPORE: Wanting to earn money, a man called a number left on the bathroom door and became one of many people involved in a type of loan scam that tricked DBS Bank into disbursing $ 1.89 million Singaporean dollars.
Muhammad Fazly Laily, 28, was sentenced to six months in prison on Thursday October 28 for his role in the scam. He pleaded guilty to one count of having acquired property in his bank account equivalent to the proceeds of fraud.
The court heard that Fazly was an independent video technician at the time of the crime, earning S $ 600 to S $ 700 between March 2019 and April 2019.
At the end of March 2019, he went to a cafe near the Aljunied MRT and used the toilet. On the back of one of the doors was a handwritten message that said “need cash, call this number”.
Fazly didn’t know who wrote the message or who owned the cell phone number engraved on the door, but called the number anyway.
An unidentified man picked up the call and Fazly asked him if he could get any amount of money in the form of a loan. When the man answered “yes”, Fazly asked if the loan would be legal or illegal, and asked the man where he worked.
The stranger told Fazly that he would have no way of getting the loan from the bank if the loan was illegal.
Fazly was only thinking about getting the money, so he didn’t verify the man’s name, the workplace information, and how the man would help him get the bank loan.
Fazly told the man over the phone that he wanted to apply for a bank loan of between S $ 5,000 and S $ 10,000. He thought he was not eligible for the loan because his salary was too low, but decided to give it a shot.
The man on the phone asked Fazly for photos of his NRIC, along with his POSB ATM PIN, credit report, POSB account number, and SingPass ID and password. Fazly gave him the information and the man told Fazly the request would take one to two weeks.
Fazly claimed he lost the phone he called the man with and didn’t call him again about the loan because he couldn’t remember the number.
On April 11, 2019, Fazly verified his POSB savings account and realized that he had received a loan of S $ 11,400 from DBS as part of the DBS Cashline loan.
He realized that the loan amount was more than he asked the stranger and found it impossible for the bank to disburse the loan amount to him because of his low monthly salary. would have made him ineligible.
He withdrew the entire amount and spent it on himself for things like food, massages and sexual services.
DBS LOGES POLICE REPORT
In May 2019, a DBS fraud officer filed a police report indicating that there were over 150 loan applications from DBS Cashline that had been submitted on behalf of various people and supported by fake pay slips and income documents.
Between March 2019 and May 2019, DBS was tricked into disbursing S $ 1.89 million due to these fraudulent Cashline loan applications. One of the requests was submitted on behalf of Fazly and the Department of Commercial Affairs began investigating the crimes.
Investigations revealed that a DBS Cashline loan application was submitted on behalf of Fazly on April 8, 2019, along with supporting false payslips.
The fabricated slips claimed that Fazly was earning a salary of S $ 4,660.50 from a company called Presico Engineering, and DBS was tricked into disbursing a loan of S $ 11,400 into Fazly’s bank account.
Fazly did not make any voluntary repayment of the loan. About S $ 300 was recovered from his POSB account, but the remaining amount of about S $ 11,000 remains unpaid.
Deputy prosecutor Stacey Anne Fernandez requested six months in prison, noting that Fazly had “personally enriched” the entire amount disbursed.
He spent all the money on a short term – the loan was disbursed on April 11, 2019 and it was shut down on April 23, 2019, she said.
Fazly is currently serving prison time for drug offenses and has asked if his new prison sentence can run concurrently with his current sentence. The judge told him it was not fair because the sentences are for different offenses.
He will begin his six-month prison term at the end of his current sentence.