Wed, Sep 2, 2020

Sin Yee Koh Featured in Accuity Podcast on Fintechs & Financial Crime Compliance Best Practices

Sin Yee Koh, Director in Duff & Phelps Compliance & Regulatory Consulting practice in Singapore was recently featured in Accuity’s Reg Tech Pulse podcast discussing the regulatory challenges faced by financial technology (fintech) firms and Financial Crime Compliance (FCC) best practices.

Sin Yee highlights that fintechs is a broad term encompassing many organizations providing a financial service to the public using technology, from small entrepreneurial startups to large organizations. She describes why many fintechs potentially have to be regulated and sketches a typical firm’s transition from unregulated to regulated. In particular, Sin Yee debunks the myth that regulations discriminate against fintechs and advises firms on how to come to terms with financial services regulation, in particular complex anti-money laundering (AML) regulations.

She shares how regulators and industry can work together to get better at AML compliance amid constantly evolving regulations and sectors, particularly in the nascent crypto asset world and advises fintechs that wish to be “regulation-ready” to understand the regulators’ direction of travel, deconstructing along the way the esoteric concept of the risk-based AML framework using an interesting analogy of fishermen and nets. Finally, Sin Yee advises on the top 3 blind spots when building an effective FCC program. 

Listen to the podcast here.

Valuation Advisory Services

Our valuation experts provide valuation services for financial reporting, tax, investment and risk management purposes.