CYS INSIGHTS

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...

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...