Compliance and AML

Know Your Customer (KYC) is the backbone of MCTPay’s operations and its importance cannot be understated. Engaging in KYC as well as due diligence for prospective and current customers is key to MCTPay’s anti-money laundering and counter terrorism financing efforts. MCTPay’s Compliance team ensures that transactions are actively being monitored for fraudulent and suspicious activity. Every effort is made to ensure that transactions are under scrutiny.

If you suspect or wish to report any transaction pertaining to fraud or suspicious activity, please contact MCTPay’s Compliance department at compliance@mct.com.sg.

Registration of Merchant Payment Account – Documents required:

1. Accounting and Corporate Regulatory Authority (ACRA) business profile
2. Certificate of Incorporation and Memorandum and/or Articles of Association
3. Identification Card (Front & Back) for all Beneficial Owners, Connected Parties and Signer (If different)
4. Photo of Merchant Outlet and/or Website (where applicable)
5. Recent Bank statement
6. Onboarding Questionnaire

Registration of Remittance Account – Documents required:

1. Remittance Document Checklist
   1. For individuals:
      1. Beneficiary identification
      2. Beneficiary address proof
      3. Remitter identification
      4. Remitter address proof
      5. Remitter Source of Funds/Wealth
      6. Proof of relation document
   2. For corporates:
      1. Business proxy identification
      2. Proof of authorization
      3. Accounting and Corporate Regulatory Authority (ACRA) business profile
      4. Recent Bank statement
      5. Identification Card (Front & Back) for all Beneficial Owners, Connected Parties and Signer (If different)
      6. Remitter Source of Funds/Wealth
      7. Invoice/Contract for Remittance
2. Remittance Application Form
3. Simplified Remittance Order (Repeat customers)
4. Large Amount Questionnaire (For high value remittances)
   1. Personal Notice of Assessment for preceding 2 years (individual remittance only)

BEWARE OF PHISHING ATTACKS

Phishing is a cybercrime in which scammers try to lure you into giving up your personal information by impersonating a trusted source. Phishers can trick you through:

MCT Pay will never send the email to request our customer to renew their password, any time MCT Pay user needs to renew their password should go to MCTPay website using [Forgot Password] to reset password.