Welcome to our FAQ page your quick guide to understanding our association.
Find answers on licensing, regulations, membership, compliance, and money exchange guidelines.
MCA represents and supports licensed money changers in Singapore, advocating for industry interests with regulatory bodies, providing essential training, and facilitating networking opportunities.
Membership is open to licensed money changers operating in Singapore. Please visit our membership section for more details on the application process and membership benefits.
Benefits include access to up-to-date regulatory guidance, AML and compliance training, advocacy on industry issues, networking events, and a platform to influence industry standards.
Yes, we offer comprehensive training programs on various topics, including Anti-Money Laundering, Countering Financing of Terrorism, and regulatory compliance to ensure our members meet the highest standards.
MCA engages in regular dialogue with local and international regulatory bodies to discuss policy changes, advocate for members' interests, and ensure the industry’s voice is heard.
No, MCA is not a regulatory body. It does not regulate money changers but serves as an industry association that supports licensed money changers in Singapore through advocacy, training, and representation. Regulation and licensing are overseen by the relevant authorities, such as the Monetary Authority of Singapore (MAS).
MCA does not have regulatory authority to take action on complaints. However, it can provide guidance and facilitate communication between the parties involved. For formal complaints or regulatory action, you should approach the relevant authorities, such as the Monetary Authority of Singapore (MAS).
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