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Supporting the Prosecution's Stance on Unlicensed Money Transfer Services

Published July 8, 2026 at 1:15 PM UTC

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The prosecution's case against Sean Koh Chao Lun underscores the critical importance of adhering to financial regulations designed to prevent illicit activities such as money laundering and fraud. By operating an unlicensed money transfer service, Koh not only violated the Payment Services Act but also facilitated the movement of funds linked to criminal activities, including scam proceeds from Germany. The substantial amount of money involved—approximately £1.4 million—demonstrates the potential scale of financial crimes that can be perpetrated when such regulations are ignored. The prosecution's decision to charge Koh reflects a commitment to upholding the integrity of Singapore's financial system and serves as a deterrent to others who might consider engaging in similar unlawful activities. Ensuring that all money transfer services are properly licensed is essential to maintain public trust and prevent the misuse of financial channels for illicit purposes.