CYS INSIGHTS

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...

Dec 18, 2023

Grab Driver & Director of 60 Companies fined S$28,000

A Report by CYS Global Remit Legal & Compliance Office In a recent legal development reported by Today Online, a director, Koh, aged 46,...

Dec 12, 2023

Binance Chief Zhao Pleads Guilty

A Report by CYS Global Remit Legal & Compliance Office In recent news, Binance chief, Changpeng Zhao, has stepped down and pleaded guilty...

Dec 4, 2023

CYS Invests in Ethics & Compliance

A Report by CYS Global Remit Legal & Compliance Office Amid heightened regulatory scrutiny, economic fluctuations, stakeholder activism,...

Nov 29, 2023

Man Jailed for Laundering S$450,000 Scam Proceeds to China

A Report by CYS Global Remit Legal & Compliance Office In a recent case, a Singapore permanent resident, originally from China, was found...

Nov 21, 2023

OCBC Dubai Fined for AML Lapses

A Report by CYS Global Remit Legal & Compliance Office In a recent development, the Dubai Financial Services Authority (DFSA) has levied...

Nov 15, 2023

UAE Praises SG on AML

A Report by CYS Global Remit Legal & Compliance Office An article in Straits Times published on 14 November 2023 titled “S’pore handling...

Nov 7, 2023

AUTOMATING COMPLIANCE FOR CROSS-BORDER PAYMENTS

A Report by CYS Global Remit Transaction Monitoring Unit In an exciting collaboration, the Bank for International Settlements (BIS),...