Singapore acts to address cases of frozen remittances in China worth S$13 million
SINGAPORE: The Monetary Authority of Singapore (MAS) on Monday (Dec 18) instructed remittance companies here to use only banking and card channels to transfer funds to China, after Singapore police received hundreds of reports of remittances being frozen overseas. From Jan 1 to Mar 31 next year, remittance companies cannot use overseas third-party agents of non-bank and … Read more