Personal Data Protection Act – Actions needed by Money Changers

Introduction High profile data breaches seemed to be in the spotlight in the past week.  On 15 Sep 2014, M1 had to abruptly suspend the iPhone 6 online pre-order after a customer managed to gain access to forms containing personal data of other customers. One day later, on a separate unrelated incident, hackers breached the database of popular karaoke company K-box, and published more than 317,000 customers’ personal details containing the mobile numbers, identification card[…]


How to set up a money changer business?

Singapore, being an international financial centre and a tourist hub, has a relatively safe and secure environment for money changers to conduct their business.  This post is a digest of the key requirements in setting up a money changing business in Singapore. Money changing involves the buying and selling of foreign currency notes and may be conducted under a sole proprietorship, partnership or company. In Singapore, there are currently 382 licensed money changers (as at[…]


Rates Stream – Forex rates at your fingertip

Ingenique is pleased to announce the General Availability of Rates Stream – our live stream of forex rates to our MoneyConnect System.  With Rates Stream, inter-bank rates will be broadcasted to all the connected handheld tablets, and converted into retail rates using pre-defined formulas set by you. Pricing your buy/ sell trades correctly is key to the profitability of your business.  With MoneyConnect Rates Stream, inter-bank rates are continuously streamed to your MoneyConnect tablets via internet,[…]