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Two male Indian nationals, aged 45 and 33, will be charged in Court on 24 April 2026, for: (a) providing cross-border money transfer services without a valid payment services licence under Section 5(1) of the Payment Services Act 2019; and (b) engaging in unlicensed remittance activities as self-employed foreigners without a valid work pass under Section 10(1) of the Employment of Foreign Manpower Act 1990 (“EFMA”). The older man will also be charged for conspiring with a company director to abet the false declaration in his work pass application under Section 22(1)(d) of the EFMA.

Acting on information received, the Police conducted a raid along Norris Road on 8 April 2025 and uncovered that the 45-year-old man had engaged in unlicensed cross-border money transfer services. Investigations revealed that between March 2024 and April 2025, the man had allegedly operated two parallel unlicensed remittance operations, – one involving an unknown person and another involving his own acquaintance in India. 

During the raid, the Police seized more than S$314,000 in cash, thirty ATM cards, one hard disk, two mobile phones, and multiple remittance transaction record books. Investigations revealed that the total cross-border remittances amounted to more than S$38.6 million.

The 33-year-old man was also detained as part of the same operation. He was found in possession of 22 ATM cards belonging to various Indian nationals. Investigations revealed that between May 2024 and April 2025, the man had allegedly facilitated unlicensed cross-border money transfer services, operating as both a courier and independent agent in the network. 

He purportedly operated through two distinct methods: processing direct bank transfers through his personal bank account and managing multiple ATM cards from cardholders. He would collect funds and deliver them to the 45-year-old man for remittance to India. Additionally, he allegedly facilitated domestic loan repayments for various individuals. The total cross-border remittances amounted to more than S$301,000, while domestic remittances amounted to more than S$70,000. 

The provision of any type of payment services (including cross-border money transfer services) in Singapore without a license, unless exempted under the Act under Section 5(1) of the Payment Services Act 2019, carries a fine of up to S$125,000 or imprisonment of up to three years or both. In the case of a continuing offence, the offence carries a fine of up to S$12,500 for every day or part of a day during which the offence continues after conviction.

Both men did not have a valid work pass to be self-employed foreigners. They engaged in unlicenced remittance activities for the purpose of gain. A first-time offender convicted of being a self-employed foreigner without a valid work pass is liable to a fine not exceeding $20,000, or imprisonment for a term not exceeding two years, or to both.

The Police will not hesitate to take action against any individual or entity involved in providing unlicensed cross-border money transfer services. Members of the public are strongly advised to use financial institutions or payment service providers licensed by the Monetary Authority of Singapore when conducting cross-border money transfers. The Police would like to caution against engaging in unlicensed payment service activities, as unlicensed payment service providers are not regulated and are not subjected to stringent anti-money laundering and counter terrorism financing measures.

Separately, MOM’s investigations into the 45-year-old man’s work pass application revealed that he had allegedly obtained a work pass from a 39-year-old male Indian national, who was a company director, in order to validate his stay in Singapore, without needing to work for his employer. After the work pass was issued, the 45-year-old man did not work for the company but instead, engaged in the unlawful activity of unlicensed remittance in exchange for money. The 39-year-old company director and the 45-year-old man will be charged for conspiring with each other to abet the making of a false declaration in the work pass application under Section 22(1)(d) of the EFMA.

Under the EFMA, all employers and work pass applicants must make accurate and truthful declarations to the Controller of Work Passes. Anyone convicted of making false declarations in work pass applications is liable to a fine not exceeding $20,000, or imprisonment for a term not exceeding two years, or to both. Their work pass privileges may also be suspended, and the work pass applicant will be barred from working in Singapore.

Exhibits seized