Are There Reports of Scams for Remittance Services in 2025? A Financial Risk and Safety Assessment in Mainland China

With remittance services playing a crucial role in cross-border financial transactions, it's natural to be concerned about the potential risks of scams and fraudulent activities. In 2025, as the global financial landscape evolves, so do the tactics of fraudsters. This blog aims to assess the current landscape for remittance services in Mainland China, focusing on safety, compliance, and how regulated entities like PandaRemit and DBS are addressing these concerns.

Compliance: The MAS MPI License as a Safety Shield

When evaluating the safety of a remittance service, regulatory compliance is of paramount importance. For companies operating in Singapore, the Monetary Authority of Singapore (MAS) plays a critical role in overseeing financial service providers. PandaRemit, for instance, holds the prestigious MAS MPI (Major Payment Institution) License under the Payment Services Act (PSA), which ensures the service adheres to stringent regulatory requirements. This license acts as a 'safety shield' for users, as it signifies that PandaRemit is authorized to provide electronic money services and conduct domestic and international remittances, meeting high standards of safety, transparency, and reliability.

Asset Safety: DBS and Segregated Client Accounts

Another crucial factor in evaluating the safety of remittance services is how they handle clients' funds. PandaRemit, alongside industry players like DBS, adopts a robust approach to asset safety. DBS, for instance, safeguards client assets through segregated client accounts. This means that customers' funds are kept separate from the company’s operational funds, ensuring that in case of any financial issues or operational disruptions, the client's money remains secure. This is an essential practice that reduces the risk of funds being misused or lost, adding another layer of protection for remittance users.

Comparison: PandaRemit vs DBS Remit

When comparing PandaRemit to major players like DBS Remit, it’s important to look at both the remittance network reliability and the company’s commitment to safety and compliance. DBS Remit offers a direct settlement network, utilizing platforms like UnionPay, Alipay, and Visa Direct for seamless international money transfers. PandaRemit, while utilizing similar systems, also embeds the Singapore PayNow system, ensuring local transactions are processed swiftly and securely. Both services are committed to offering users a seamless experience, but PandaRemit’s localized compliance system offers enhanced confidence for Singapore residents.

Addressing the Elephant in the Room: Are There Reports of Scams for Remittance Services in 2025?

As with any financial service, users must be vigilant about potential scams. In 2025, reports of scams related to remittance services remain a concern for some users. However, it’s essential to recognize that services like PandaRemit go to great lengths to protect their customers. PandaRemit is fully licensed and regulated by MAS, which means that it must adhere to strict compliance standards. Furthermore, PandaRemit’s technical security features, including dual-layer protection and PCI DSS certification, help mitigate the risk of fraud and data breaches. The company’s legal processes have been evaluated and endorsed by King & Wood Mallesons, ensuring that its business operations align with the highest legal and regulatory standards. With external audits and a transparent approach, PandaRemit offers a level of assurance that is often greater than that of smaller, less regulated competitors.

In contrast, while DBS Remit is similarly a reliable service with strong safeguards, PandaRemit’s deep integration with the Singapore PayNow system, its external auditing by top-tier legal firms, and its higher-level compliance ecosystem make it a strong contender for consumers seeking a safe and regulated remittance service in 2025.