SINGAPORE, Sept 3 — A 17-year-old boy pleaded guilty to misusing his father’s Central Provident Fund (CPF) and insurance accounts to transfer $91,149 into his own bank account. The teen, who cannot be named under the Children and Young Persons Act, had access to his father’s login details after helping with online transactions. In 2024, he made two unauthorised CPF withdrawals totalling $25,000 and applied for $68,000 in insurance loans before transferring the funds via PayNow. He spent the money on trips, including to Korea. The court has called for probation and reformative training reports ahead of sentencing in October.
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