4 indicted for scamming Singaporeans, Malaysians out of NT$495 million

Kaohsiung, June 23 (CNA) Four members of a southern Taiwan-based scam ring have been indicted for allegedly defrauding Singaporean and Malaysian nationals of NT$495 million (US$16.6 million).

Prosecutors charged the four individuals, including a man surnamed Tsai (蔡), with aggravated fraud and money laundering after working with Singapore police on the investigation into the case, the Ciaotou District Prosecutors Office in Kaohsiung said Monday.

The office has requested prison sentences of at least eight years for each of the defendants, it said in a statement.

The alleged mastermind of the operation, a man surnamed Lee (李), remains at large and is on the wanted list, the statement said.

According to prosecutors, Lee acquired a Trojan horse malware program in late 2022 and recruited the four suspects in March 2023.

They allegedly posed as system vendors and ran online advertisements targeting victims in Singapore and Malaysia, convincing them to download a fake app embedded with the malware.

Once installed on the victim's mobile phone, the spyware enabled remote viewing or recording of personal data and other digital records stored on the device.

It also allowed the perpetrators to seize control of each phone's functions and get the owner's online banking password, enabling them to access the victims' online banking system and transfer funds from their accounts to those controlled by the fraud ring.