CYS INSIGHTS

5 days ago

Money Laundering in the Digital Age: Understanding Modern Financial Crime Prevention

A Report by the Legal & Compliance Office at CYS Global Remit The methods used to disguise illicit funds have profoundly evolved in our...

Dec 25, 2024

Dirty Money’s Hiding Spots: How Corruption Funds Disappear Overseas

A Report by CYS Global Remit Legal & Compliance Office On December 16, 2024, a report by Transparency International revealed the alarming...

Dec 18, 2024

Australian Regulator Launches Initiative to Address Criminal Use of Cryptocurrency

A Report by CYS Global Remit Legal & Compliance Office On Friday, Australia's financial crime monitoring agency announced the...

Dec 11, 2024

EU Enlargement: Prioritizing the Fight Against Corruption

A Report by CYS Global Remit Legal & Compliance Office As the European Union (EU) evaluates potential new members, tackling corruption...

Dec 4, 2024

Launderer Sentenced to Five Years for Massive Bitfinex Heist

A Report by CYS Global Remit Legal & Compliance Office  In a striking turn of events, U.S. citizen Ilya Lichtenstein has been sentenced...

Nov 27, 2024

GRA Slaps Resorts World Sentosa with SGD 2.25M Fine Over Customer Check Failures

A Report by CYS Global Remit Legal & Compliance Office  Singapore's premier casino operator, Resorts World Sentosa (RWS), has been hit...

Nov 20, 2024

Singapore Launches Anti-Phishing Framework for December 2024

A Report by CYS Global Remit Legal & Compliance Office  The Monetary Authority of Singapore (MAS) and the Infocomm Media Development...

Nov 13, 2024

Investment Management Firm Fined S$1.9M for AML Compliance Failures

A Report by CYS Global Remit Lege & Compliance Office The Monetary Authority of Singapore (MAS) has levied a S$1.9 million fine on...

Nov 6, 2024

2025 Compliance Outlook: Integrating AI and Navigating Global Regulatory Changes

A Report by CYS Global Remit Legal & Compliance Office  The compliance landscape of 2025 is poised at a pivotal point, influenced by two...

Oct 30, 2024

New Anti-Money Laundering Requirements for Real Estate Agents and Lawyers

A Report by CYS Global Remit Legal & Compliance Office Overview In response to lessons from a major money laundering case involving...

Oct 22, 2024

TD Bank Fined Nearly $3.1B by U.S. Regulators for AML Compliance Failures

A Report by CYS Global Remit Legal & Compliance Office  TD Bank, a leading financial institution in North America, has been fined a...

Oct 16, 2024

Understanding Attack Surface Management: Definition, Scope, and Importance

A Report by CYS Global Remit Legal & Compliance Office In the ever-evolving cybersecurity landscape, organizations are increasingly...

Oct 8, 2024

Embedding Integrity: The Role of Compliance Programs in Shaping Corporate Culture

A Report by CYS Global Remit Legal & Compliance Office Ethics and compliance training is vital in cultivating a corporate culture that...

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...