PUBLISHED ONApril 24, 2026 3:15 AMBYSean LerTwo male Indian nationals, aged 33 and 45, will be charged in court on Friday (April 24) for allegedly providing cross-border money transfer services without a valid licence, and for engaging in illegal remittance activities as self-employed foreigners without a valid work pass.
The 45-year-old man also faces another charge of conspiring with a company director to abet the false declaration in his work pass application.
In a joint press release on Thursday (April 23), the police and Ministry of Manpower (MOM) said they conducted a raid along Norris Road in Little India on April 8 last year and found the 45-year-old man had engaged in unlicensed cross-border money transfer services.
He allegedly operated two parallel unlicensed remittance operations between March 2024 and April 2025 — one involving an unknown person and another involving his own acquaintance in India.
Police seized more than $314,000 in cash, thirty automated teller machine (ATM) cards, one hard disk, two mobile phones, and multiple remittance transaction record books.
The total cross-border remittances amounted to more than $38.6 million.
During the MOM and police operation, the 33-year-old man was detained and found with 22 ATM cards belonging to various Indian nationals.
He allegedly facilitated unlicensed cross-border money transfer services, operating as both a courier and independent agent in the network between the May 2024 and April 2025.
Investigations revealed he operated by processing direct bank transfers through his personal account and by managing multiple ATM cards from cardholders.
He would then deliver the collected funds to the 45-year-old man for remittance to India. Additionally, he allegedly facilitated domestic loan repayments for various people.
The total cross-border remittances amounted to more than S$301,000, while domestic remittances amounted to more than S$70,000.
MOM's separate investigations also revealed that the older man's work pass application was allegedly obtained from a 39-year-old male Indian national listed as a company director.
However, the 45-year-old did not work for the company but instead, engaged in the unlawful activity of unlicensed remittance in exchange for money.
Those found guilty of making false declarations in work pass applications are liable to a fine of up to $20,000, jail for up to two years, or both.
The offence of engaging in unlicenced remittance services carries a penalty of up to two years' jail, a fine of up to $20,000, or both.
If found guilty of providing payment services without a licence, the two Indian nationals may each be fined up to $125,000, jailed up to three years, or both.
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