The teenager cannot be named as those below 18 are protected under the Children and Young Persons Act.
He is said to have engaged in a conspiracy with the unknown parties to perform unauthorised access to programmes hosted in the servers of the banks’ Internet banking systems. In a statement on Wednesday, the police said the five people were arrested between June 19 and 23 after officers received multiple reports about malware being used to compromise Android mobile devices.
Nine of these malware-related scams involved CPF savings and bank accounts with losses amounting to at least $335,000. Mohamed Fazli Abdul Hamid, 42, who was allegedly involved in an unrelated case, was the sixth person charged on Wednesday.In a separate statement on Tuesday evening, the police said investigations revealed that Fazli had allegedly deceived a bank into opening an account.