Singapore-based remittance firm Samlit Moneychanger has reportedly been sued after customer funds it transferred to mainland China were allegedly frozen.
Samlit Moneychanger Pte has been sued in Singapore by three Chinese nationals, according to a «Bloomberg» report citing a court filing. The remittance firm has been accused of breaching agreements over funds frozen in China.
The three claimants – Tan Mingshi, Peng Fang Fang and Qi Chao – allege that part or all of 250,000 yuan ($35,200), 195,6000 yuan and S$10,576 ($7,900), respectively, in funds transferred have been frozen by police. All three said they followed police orders, such as the transfer of funds to «scam victims», for «fear of criminal consequences». In total, they are seeking 347,501 yuan from Samlit.
Allegations Denied
Samlit denied the allegations and said it can’t be responsible for what happens after the money reaches designed accounts in China. Also, none of the claimants have been accused of any related wrongdoings, according to their lawyer Pang Khin Wee of Hoh Law Corp.
In December, the Monetary Authority of Singapore issued a notice directing remittance companies to temporarily suspend the use of non-bank and non-card channels when transferring money to persons in China to curb funds from being frozen. As of 15 December 2023, the Singapore Police Force has received more than 670 reports of remittances being frozen, including 430 reports against Samlit Moneychanger.
