From December 15 last year to December 15 this year, the Singapore police received a total of more than 670 remittances to China. The bank account was frozen, involving 13 million yuan.The Singapore Financial Authority pointed out that it is unclear why these funds have been frozen.However, the affected remittant pointed out that the contributor in China received an official notice that frozen funds involved money laundering activities.
Affected remittant is mostly Chinese guest workers working in Singapore.Because the exchange rate of the remittance company is higher than the bank and the handling fee is lower, many Chinese guest workers remit money to their families through this pipeline.On the other hand, in order to lower the cost, the remittance company remittance to the account of the Chinese receipts through overseas agents.
It is understood that through the channels of agency remittances, they have always successfully transferred to the bank's bank account in China.However, China's law enforcement units have recently increased the intensity of anti -money laundering, and frozen accounts of the payee on the grounds of suspected black money laundering.
In the past few months, the affected remittances have gathered many times in the remittance company to "discuss the way" and go to the Chinese Embassy for assistance.In addition, they also complained to the Singapore Consumer Association and the Financial Administration, demanding that their "hard -earned money" and the "life -saving money" that remitted to family members for medical treatment.
The Financial Management Bureau and the Police on Monday (December 18) pointed out in a joint statement that the Singapore government has no jurisdiction over the bank accounts frozen by Chinese law enforcement agencies.However, Singapore will make every effort to help the income from thawing the account through multiple channels.
The Ministry of Foreign Affairs and police have repeatedly reported the situation to the Chinese Public Security and Foreign Ministry of Foreign Security and the demands for the thawing of the households.In addition, the HKMA instructed the remittance company to provide assistance to customers, strengthen the process of handling complaints, and review their agreements with partners.
The Financial Management Bureau also announced that from January 1st to the end of March next year, all local cross -border remittance companies must not be transferred to China through third -party agents.Apply for remittances.It reviews this regulation after three months.
Fraud and money laundering have emerged endlessly, and most of them are cross -border operations. Law enforcement units have some restrictions on cross -border cooperation due to jurisdiction.Even so, both new and China have increased their strikes.In August this year, Singapore's law enforcement unit arrested 10 suspects suspected of laundering and frozen assets of up to 2.8 billion yuan; suspects were from China.On the other hand, China cooperated with Myanmar to destroy telecommunications fraud gangs in northern Myanmar, and Myanmar transferred more than a thousand suspects to China.
Whether the remittance business of the two countries involves money laundering activities is still yet to be determined.However, the remittance was inexplicably frozen, and the Chinese guest workers who affected the legitimate remittance also affected the image of the Singapore financial center.It is the common interests of the two countries.Strengthening cooperation and information exchange between the two countries will help the account of the receipt faster and alleviate the anxiety of the remittance.
The Financial Management Bureau pointed out that the suspension of remittance companies through third -party agency remittances will of course make the remiters pay higher fees, but this is a necessary measure.The remittant shall follow the suggestions of the HKMA and exchange money through banks or UnionPay cards to make safety.On the other hand, the whereabouts of the hard -earned money or life -saving money of the remittant are unknown, which will inevitably cause anxiety and anger, but Singaporean law does not allow no allowable rally or demonstration requests.The remittant should wait patiently for the development of the situation.
The HKMA will re -review the supervision and safety measures of the remittance business within these three months.This includes whether the remittance company can continue to transfer remittances through non -financial institutions and the responsibility of the remittance company to the remittance and the payee.The improvement of the supervision of the remittance business is an important part of cracking down on money laundering. It is extremely important to China's foreign exchange control and the image of Singapore's financial center.This is a new space for the cooperation between the two countries.
