Raffles Money Change claims compliance with MAS

SINGAPORE (July 22): Licensed money changer and remittance agent Raffles Money Change (RMC) has issued a statement in response to queries from members of the media, in light of the Monetary Authority of Singapore’s (MAS) press release dated July 21. 

To recap, MAS on Thursday named a number of financial institutions under investigation in a joint statement together with Attorney-General’s Chambers, Singapore (AGC) and Commercial Affairs Department, Singapore Police Force (CAD).

This included a mention of RMC, which MAS says it is finalising regulatory actions against.

---

Related Stories

• Banks in Singapore can withstand multiple shocks: MAS
• Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
• Can SGX afford to wait up to a year for reforms?

---