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Singapore’s Monetary Authority of Singapore (MAS) has revoked the major payment institution licence of Sir Money Changer Pte. Ltd. (SMC) after finding that the company allowed a third party to operate a cross-border money transfer business under its name and provided the regulator with false or misleading information. The revocation took effect on September 15, 2026, although MAS announced the enforcement action publicly on October 14. From the effective date, SMC was no long