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What would be the consequences of “renting out” a bank account?

There have been frequent incidents online of people “renting out” their bank accounts to earn commissions. Whether the account holder is aware of this or not, they cannot escape the fate of being prosecuted.

What penalties could be faced?

Section 403 of the Penal Code:

Dishonestly misappropriating property can result in imprisonment of 6 months to 5 years and can also be fined.

Section 411 of the Penal Code:

Illegally receiving stolen goods can result in imprisonment of 6 months to 5 years, or a fine, or both.

Section 420 of the Penal Code:

Fraud can result in imprisonment of 1 to 10 years and can also be fined and can be subjected to whipping.

Section 424 of the Penal Code:

Dishonestly or fraudulently transferring or concealing property can result in imprisonment of no more than 5 years, or a fine, or both.

What are the consequences of having a criminal record?

1. Ineligible to apply for government jobs.

2. Unable to obtain a certificate of good conduct.

3. Difficulties in applying for bank loans.

4. Difficulty in obtaining foreign visas.