Document background
The Authorization Letter for Money Transfer is a crucial document in Singapore's banking system, designed to facilitate secure and authorized fund transfers while maintaining compliance with strict financial regulations. This document is commonly used when an account holder needs to authorize a one-time or recurring transfer, delegate payment authority, or initiate international transfers. It must adhere to Singapore's Anti-Money Laundering guidelines and the Monetary Authority of Singapore's requirements. The letter typically includes comprehensive details about the transaction, parties involved, and necessary verifications to ensure the security and legitimacy of the transfer.
