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Singapore extends remittance restrictions to China following frozen-funds problem

( March 27, 2024, 07:47 GMT | Official Statement) -- MLex Summary: The Monetary Authority of Singapore is extending for six months to Sept. 30 the suspension of the use of channels that are not specifically permitted by remittance companies when transmitting money to China. The initial suspension starting Jan. 1 was in response to incidents where funds remitted to China were frozen in the beneficiaries’ accounts by Chinese law enforcement. The full statement is attached. ...

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