Singapore MAS Imposes S$960,000 in Composition Penalties on Five Payment Institutions for AML/CFT Breaches in Q2 2025 | Charltons Quantum

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On 1 July 2025, the Monetary Authority of Singapore (MAS) launched its quarterly replace on regulatory and enforcement actions. MAS imposed composition penalties totalling S$960,000 on 5 regulated entities i.e. Remsea Pte Ltd, Arcade Plaza Traders Pte Ltd, J-Dee Remittance Services Pte Ltd, Mobile Community Tech Pte Ltd, and OxPay SG Pte Ltd, for violations of Singapore’s AML/CFT necessities relevant to Major Payment Institutions underneath the Singapore’s Payment Services Act 2019 and related AML notices.

MAS has the authority to take a variety of enforcement actions in response to regulatory breaches, together with reprimands, civil penalties, composition funds, prohibition orders, and, the place warranted, referrals for felony prosecution. In line with its statutory mandate, MAS assesses every enforcement case as regards to the severity of the breach, potential systemic influence, and deterrent impact required to stop recurrence.

The 5 penalised corporations had been discovered to have breached necessities referring to anti-money laundering controls and obligations to counter the financing of terrorism (CFT). While the precise particulars of every agency’s misconduct weren’t publicly disclosed.

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