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CYS AML Night

A Report by CYS Global Remit Digital Media Marketing Team



CYS Global Remit hosted its annual AML (Anti Money Laundering) Training for all employees last Friday 24-Nov 2023, aptly named the AML Night. The evening served not only as a platform for delivering crucial annual updates and training on money laundering awareness but also as an opportunity to reflect on the milestones achieved throughout the year.

Key Highlights


As usual, a joint keynote speech was delivered by the two Managing Directors, Mr. Carl Cheung and Ms. Ann Wee. They touched on the theme of this year’s Singapore FinTech Festival, which is Digital Currencies and AI, and used that to set the course for CYS missions for 2024 and beyond. Led by our FinTech cohort team, CYS will spearhead into both digital currencies and artificial intelligence as part of our FinTech offerings in the near future. At the same time, we will upscale our branding effort to reach to a broader audience including job seekers, and on the other side, we will continue to enhance our core values and build an emerging CYS culture that will carry us to the next level of success.

The main highlight of the evening was the AML speech delivered by CYS Head of Compliance, Mr. Jarret Tham, who mapped out the framework of CYS AML approaches for 2024, of which he wanted CYS employees to go back to the basics and revisit due diligence and transaction monitoring but with a twist, which is the introduction of supervisory and regulatory technologies as our technology approaches on our first and second line of defence.

CYS is moving towards improving the quality of information and document collected from customers, digitalising customer risk assessment and documentation, programming applications for periodic review of CDD information, and an automated pre-transaction monitoring system to filter out anomalies.

Jarret also explained his role as the third line of defence, in which he will conduct audits on CYS customers, operating systems and AML processes to ensure that they are up to date, relevant and compliant with latest standards and requirements. His Legal & Compliance Office is responsible for reporting breaches to the Board of Directors, on top of implementing necessary mitigating measures to ensure full compliance.

Finally, a short briefing by CYS Head of Transaction Monitoring Compliance Unit, Mr. Ang Cong Shen on the payment operation processes and analytics highlighting to us the various stages of our Transaction Monitoring Compliance system.

Thanksgiving Dinner for All


Immediately after all the insightful speeches, the atmosphere of our AML training venue quickly shifted to one of celebration and thanksgiving, marked by a turkey-cutting ceremony to kick-start the Thanksgiving-themed buffet featured an array of delectable dishes, creating a feast for both the eyes and palates.

As the night concluded, a heart-warming sense of camaraderie and strengthened relationships permeated the atmosphere. AML Night not only achieved its primary purpose of training and awareness but also fostered a sense of community among CYS Global Remit's functional Teams.

In the spirit of gratitude and togetherness, AML Night showcased the company's commitment to its employees, fostering a culture of celebration, appreciation, and shared success. It was a night to remember, where bonds were forged, achievements celebrated, and the collective spirit of CYS Global Remit shone brightly.

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