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Two men under investigation by the Police and the Ministry of Manpower for operating an unlicensed remittance business

Joint press release with Police and Ministry of Manpower

  1. Two men, aged 34 and 43, are currently assisting in investigations for their suspected involvement in carrying on remittance business without a valid licence issued by the Monetary Authority of Singapore. They are also being investigated for possible employment offences under the Employment of Foreign Manpower Act.
  2. During a four-hour joint operation involving officers from the Commercial Affairs Department, Central Police Division, and the Ministry of Manpower on 26 May 2019, the two work pass holders were found to be conducting illegal remittance business at Little India. Cash amounting to S$30,000, remittance transaction records, a handphone, a cash counting machine, and a calculator were seized. 
  3. Any person convicted of operating a remittance business without a licence shall be punished with a fine of up to $100,000 or to imprisonment of up to two years, or both and, in the case of a continuing offence, to a fine of up to $10,000 for every day during which the offence continues after conviction.
  4. Foreigners working in Singapore must possess a valid work pass. Those caught working without a valid work pass will face a maximum fine of $20,000 or imprisonment of up to two years, or both. They will also be barred from entering and working in Singapore.