CYS INSIGHTS

Oct 2, 2024

Talent Shortage and Patchy Compliance: Vulnerabilities in Singapore's Money Laundering Defences

A Report by CYS Global Remit Legal & Compliance Office The recent large-scale money laundering case in Singapore has highlighted...

Sep 24, 2024

MAS Updates Licensing Guidelines for Payment Service Providers

A Report by CYS Global Remit Legal & Compliance Office In July 2024, the Monetary Authority of Singapore (MAS) introduced significant...

Sep 17, 2024

Defining Ethical AI in Singapore: Principles and Practices

A Report by CYS Global Remit Legal & Compliance Office In Singapore, ethical AI is defined by the principles set forth in the Model AI...

Sep 10, 2024

Real-time Monitoring: Your Compass Through Trade Compliance

A Report by CYS Global Remit Legal & Compliance Office In today’s rapidly changing regulatory environment, real-time monitoring stands as...

Sep 3, 2024

Unveiling Ultimate Beneficial Owners (UBOs): A Push for Transparency

A Report by CYS Global Remit Legal & Compliance Office The unmasking of Ultimate Beneficial Owners (UBOs) represents a significant shift...

Aug 28, 2024

Navigating Rising Compliance Costs: Achieving Balance in Modern Business

A Report by CYS Global Remit Legal & Compliance Office In today’s fast-paced world, rising compliance costs are a pressing concern for...

Aug 19, 2024

Singapore Casinos to Implement Stricter Due Diligence on Cash Transactions to Combat Terrorism Financing

A Report by CYS Global Remit Legal & Compliance Office Casinos in Singapore will soon adhere to tighter regulations concerning due...

Aug 13, 2024

Hong Kong's AIA Group Fined $3 Million for AML Deficiencies

A Report by CYS Global Remit Legal & Compliance Office In a significant compliance enforcement action, Hong Kong's Insurance Authority...

Aug 6, 2024

Digital Payments and Precious Metals Highlighted as High-Risk Areas in Singapore's Updated Money Laundering Risk Assessment

A Report by CYS Global Remit Legal & Compliance Office Singapore's latest national risk assessment has identified precious stones,...

Jul 30, 2024

Singapore Tightens Crypto Exchange Regulations Amid Enhanced AML/CFT Measures

A Report by CYS Global Remit Legal & Compliance Office In a significant move to bolster its position as a leading international finance,...

Jul 24, 2024

Singapore Cracks Down on Money Launderers with Tough New Legislation

A Report by CYS Global Remit Legal & Compliance Office In a bold move to tighten the noose on financial criminals, Singapore has...

Jul 15, 2024

Singapore Proposes Stricter Anti-Money Laundering Laws

A Report by CYS Global Remit Legal & Compliance Office To strengthen efforts against money laundering, Singapore has introduced new laws...

Jul 9, 2024

Singapore Introduces New Bill to Combat Money Laundering

A Report by CYS Global Remit Legal & Compliance Team Singapore has introduced the Anti-Money Laundering and Other Matters Bill to...

Jul 2, 2024

OFAC Sanctions Shadow Banking Network for Iran Military

A Report by CYS Global Remit Legal & Compliance Team On June 25, 2024, the U.S. Department of the Treasury's Office of Foreign Assets...

Jun 25, 2024

Stepping Up the Fight Against Money Laundering: Key Takeaways from the FATF Meeting

A Report by CYS Global Remit Legal & Compliance Team At their recent meeting in Washington DC, FATF Ministers made big commitments to...

Jun 19, 2024

When Ethics Fail: The Hidden Deals Between Property Agents and Bankers

A Report by CYS Global Remit Legal & Compliance Office Property agents who represented the 10 foreigners in Singapore’s largest money...

Jun 11, 2024

Singapore Releases National Risk Assessment on Environmental Crimes and Money Laundering

A Report by CYS Global Remit Legal & Compliance Office Singapore has published an Environmental Crimes Money Laundering (ML) National...

Jun 4, 2024

Combatting Illicit Flows: China Reinforces AML Law

A Report by CYS Global Remit Legal & Compliance Office Exciting developments are unfolding in China! Significant revisions to the...

May 28, 2024

Biggest Challenges Facing AML Compliance Professionals in 2024

A Report by CYS Global Remit Legal & Compliance Office Under increasing regulatory pressure and continuously evolving regulations, modern...

May 20, 2024

Chinatown Jeweller Charged for Failed CDD in Gold Transactions

A Report by CYS Global Remit Legal & Compliance Office In a notable case that caught CYS Global Remit attention was Kim Heng Jewellers...