CYS INSIGHTS

May 14, 2024

300 Suspected Scammers and Money Mules Probed by Police for S$9M Losses

A Report by CYS Global Remit Legal & Compliance Office In Singapore, the police have announced the initiation of an investigation into...

May 7, 2024

SG & HK Police Foil $370,000 Scam

A Report by CYS Global Remit Legal & Compliance Office The Singapore Police Force (SPF), in collaboration with two banks and the Hong...

Apr 30, 2024

Paytm Payments Bank Fined for Alleged Money Laundering

A Report by CYS Global Remit Transaction Monitoring Complianve Group Money laundering remains a critical concern in India's financial...

Apr 24, 2024

Russian Bought S$88m of Gold from Dealer in Changi to Launder Funds for Ukraine Invasion

A Report by CYS Global Remit Transaction Monitoring Compliance Group Recent headlines have brought to light a concerning instance...

Apr 17, 2024

13mo Jail Sentence in S$3b Money Laundering Case

A Report by CYS Global Remit Legal & Compliance Office On April 16th, 2024, Wang Baosen, a Chinese national embroiled in a S$3 billion...

Apr 9, 2024

MAS Launches COSMIC to Strengthen AML/CFT Defence

A Report by CYS Global Remit Legal & Compliance Office On April 1, 2024, the Monetary Authority of Singapore (MAS) announced the launch...

Apr 3, 2024

SG Police Officer Charged with Bribery

A Report by CYS Global Remit Legal & Compliance Office Enter the latest chapter in the ongoing legal saga of Poo Tze Chiang, a Singapore...

Mar 27, 2024

MAS Steps Up Scrutiny of China Wealth

A Report by CYS Global Remit Legal & Compliance Office Singapore has intensified its scrutiny of Chinese wealth entering the city-state,...

Mar 20, 2024

MAS Enhances Investigative Powers

A Report by CYS Global Remit Legal & Compliance Office The Financial Institutions (Miscellaneous Amendments) Bill, recently passed by...

Mar 13, 2024

U.A.E. Removed from Global Watch List for Money Laundering, Terrorism Financing

A Report by CYS Global Remit Legal & Compliance Office Great news from the financial world! The United Arab Emirates (U.A.E.) has...

Mar 5, 2024

Sports Gambling – A Growing Money-Laundering Risk

A Report by CYS Global Remit Legal & Compliance Office In a recent article from the Wall Street Journal, the spotlight fell on the risks...

Feb 27, 2024

Top Risk and Compliance Trends for 2024

A Report by CYS Global Remit Legal & Compliance Office In 2024, cybersecurity remains a paramount concern for organizations worldwide. As...

Feb 21, 2024

ICBC New York Fined $32 Million for Compliance Failures

A Report by CYS Global Remit Legal & Compliance Office The Industrial & Commercial Bank of China (ICBC) will pay approximately $32...

Feb 6, 2024

S$1.5 million Scam Foiled

A Report by CYS Global Remit Legal & Compliance Office A 71-year-old individual in Singapore narrowly avoided losing S$1.5 million...

Jan 31, 2024

FIs Spending More to Fight Crime

A Report by CYS Global Remit Legal & Compliance Office The financial landscape in Singapore is witnessing a substantial increase in...

Jan 24, 2024

Rite-Aid Faces Issues with AI Facial Recognition

A Report by CYS Global Remit Legal & Compliance Office Rite Aid Corporation, an American drugstore chain based in Philadelphia,...

Jan 16, 2024

Protecting Non-Profit Organisations from Money Laundering

A Report by CYS Global Remit Legal & Compliance Office Non-Profit Organizations (NPOs) play a pivotal role in extending assistance to...

Jan 9, 2024

Cayman Islands Off FATF Grey List

A Report by CYS Global Remit Legal & Compliance Office On the 27th of October 2023, the Cayman Islands achieved a significant milestone...

Jan 3, 2024

Money Laundering Now a Greater Risk, Say Singapore FIs

A Report by CYS Global Remit Legal & Compliance Office In a recent report by the Monetary Authority of Singapore (MAS) on November 27,...

Dec 26, 2023

AI Onboarding Saving Banks $900m by 2028

A Report by CYS Global Remit Legal & Compliance Office In a groundbreaking report from Juniper Research, a trailblazer in FinTech and...