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A Report by CYS Global Remit FinTech Development Unit Recently, both Amazon Web Services (AWS) and Cloudflare —two of the world's biggest internet infrastructure providers—experienced major outages that sent shockwaves through the financial services sector. These weren't isolated technical hiccups; they exposed fundamental vulnerabilities in how modern fintech platforms operate. What Happened? AWS went down because of an internal system error that caused one of its core data services to stop...

A Report by CYS Global Remit Digital Media Marketing Team If you've ever sent money overseas, you might have wondered: "Are there limits on how much I can transfer?"  The short answer is yes – in some countries, there are limits. But the details vary depending on the destination, the purpose of your transfer, and the currency involved. Why Do Limits Exist?  Governments and regulators impose transfer limits primarily to protect their financial systems , manage currency flows , and prevent...

Navigating Compliance in a Rapidly Evolving Payments Landscape Part 2: Operational Gaps – Lessons from Recent Penalties  The Monetary Authority of Singapore's (MAS) recent enforcement actions have exposed critical operational failings across multiple financial institutions, offering stark lessons for the payments sector. These aren't minor infractions – they represent fundamental breakdowns in compliance that carry serious business consequences. What Went Wrong? The penalised institutions...