Tang Kang Yung, 35, would have to spend an additional week behind bars if he fails to settle the fine, the Straits Times reported.

He earlier pleaded guilty in November to multiple charges over offences including cheating and misusing a computer system. Cases involving two of his alleged accomplices – Malaysians Besmond Huan, 24, and Yew Chee Sian, 37 – are pending, while Yew’s wife, Angeline Chan, 38, said to be an alleged accomplice, is still at large.

The court was told that the syndicate “harvested” Singapore bank accounts and internet banking login credentials linked to them for the group’s illegal use.

Tan, Huan and several other Malaysians were arrested on Aug 9 last year after Singapore and Malaysian police identified a money laundering syndicate which was operating in Johor.