Personal Data Protection Act – Actions needed by Money Changers
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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
MoneyConnect Sentinel-MC – AML/CFT solution on tablets
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Ingenique is pleased to announce the General Availability of Sentinel-MC – our solution to AML/CFT (Anti Money Laundering/ Counter Financing of Terrorism) for Money Changers. Sentinel-MC is fully integrated with our MoneyConnect System, and it allows Customer Due Diligence (CDD) to be conducted at the point of sales using MoneyConnect tablets. Key features: Compliance with MAS Notice 3001. Sentinel-MC is designed to meet the rigorous requirements of MAS Notice 3001 for money changers. From
How to set up a money changer business?
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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
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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,