Concluding Our Participation At The Webinar On FATF Red Flag Indicators Report On Virtual Assets



We have successfully concluded our participation at the webinar hosted by the Regulatory and Compliance Sub-Committee of the Blockchain Association Singapore (BAS) on the latest Red Flags Indicator Report on Virtual Assets (cryptocurrencies) issued by the Financial Action Task Force (FATF). Our CEO and Co-founder, Chye Kit, alongside with several other industry speakers in the regulatory industry were present at the panel discussion to discuss the recent FATF report in greater detail.



The 90-minutes webinar started off with the panellists addressing how the FATF report will have a downstream impact on regulatory bodies and consequently on how Crypto Exchanges and Intermediaries and Financial Institutions (FIs) design their compliance framework.


Moving on, the highlight of the webinar was the panel session where the panellists discussed and shared their thoughts and comments on some of the key red flag indicators highlighted in the recent FATF report. Bringing the topic into Singapore’s context, the panellists also touched on how the current Monetary Authority of Singapore (MAS)’s guidelines fare against some of the indicators identified by FATF to help identify suspicious activities.


We would like to thank BAS for organising this educational webinar, and the fellow panellists for sharing their thoughts and comments on the FATF report. We look forward to participating in more insightful discussions in the future.


Check out the video below for the full coverage of content discussed during the webinar: https://www.youtube.com/watch?v=KKE-aX_MqkQ


If you have any questions or queries about the red flag indicators report, please send in your query to hello@singaporeblockchain.org.



About Cynopsis Solutions

Founded in 2014 and headquartered in Singapore, Cynopsis Solutions offers RegTech solutions designed to digitise and automate Compliance and regulatory processes, in particular know-your-customer, anti-money laundering, and counter-terrorism financing. Cynopsis Solutions’ accolades include MAS FinTech Awards (2018), RegTech100 (2018, 2019) and Financial Times Top 50 High Growth Companies in Asia-Pacific.


Our end-to-end KYC/AML solutions are designed according to the global FATF recommendations, applicable to more than 180 jurisdictions and is already helping more than a thousand B2B customers in the Banking, Financial Services, FinTech and Cryptocurrency, Professional Services and Gaming sectors globally.


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