FOMO Group Appoints New Head of Compliance to Strengthen Regulatory Commitment

SINGAPORE, March 4, 2024 /PRNewswire/ -- FOMO Group, a Singapore-based financial holding group, today announces the appointment of Cindy Ho as Group Head of Compliance. Cindy will lead the Group's Compliance function, overseeing regulatory compliance, policy development and implementation, risk assessment and business advisory activities, to support its business growth.

Cindy brings over 30 years of compliance experience to the role, having held key leadership positions in renowned financial institutions with a wealth of experience covering compliance issues across the region. Formerly the Chief Control Officer of Bank J. Safra Sarasin in Singapore, she led the Singapore and Hong Kong Compliance teams, managing regulatory advisory and KYC/AML/CFT surveillance in Asia. Prior to this, Cindy held roles as the Vice President of Compliance at Credit Suisse and the Head of Compliance for Private Banking at Standard Chartered Bank. She successfully spearheaded large-scale compliance projects, orchestrating the development of robust compliance frameworks to combat anti-money laundering and KYC issues across Asian markets and ensure adherence to regulatory requirements. Her extensive experience working with regional stakeholders and fostering positive impact in the finance ecosystem aligns seamlessly with FOMO Group's pursuit of top-tier talent to elevate compliance capabilities and uphold a leading position in the industry.

As Group Head of Compliance, Cindy will play a pivotal role in advancing FOMO Group's commitment to customer protection and robust compliance. She will direct the implementation and enhancement of a comprehensive compliance framework aligned with regulatory requirements across various jurisdictions. Leveraging her extensive knowledge, Cindy will consistently optimize the organization's suite of compliance tools to ensure robust security throughout the entire business process, from client onboarding to transaction monitoring, to bolster client trust. Cindy's strategic focus also includes maintaining close engagement with regulatory bodies and participating in industry dialogues, which contribute to developing practical compliance programs and standards for the broader industry.

"The digital finance industry has experienced transformative shifts propelled by innovative technologies that enhance efficiency and accessibility," said Cindy. "While this presents exciting opportunities, it also introduces new complexities and risks that need to be carefully managed."

"FOMO Group has consistently demonstrated its commitment to the highest standards of compliance. I look forward to working with its wealth of talent to build a robust line of defense. Together, we will navigate the dynamic regulatory landscape and uphold the trust our customers place in us," said Cindy.

Louis Liu, Chairman of FOMO Group, said, "We are excited to welcome Cindy to our team as we propel forward in building a trusted, fully regulated, one-stop digital payment platform. With her vast, impressive background and deep understanding of compliance, she is an ideal fit to guide our compliance initiatives to strengthen our business competitiveness and resilience. Compliance stands paramount in our priorities, and we believe her joining our team perfectly aligns with our goal of ensuring compliance and fostering sustainable growth."

About FOMO Group

Founded in 2015, FOMO Group is a Singapore-based financial holding group, globally recognized and trusted by institutional and corporate clients as a leading one-stop digital payment, digital banking and digital asset solutions provider. With a commitment to seamlessly bridging Web 2.0 and Web 3.0 ecosystems, FOMO Group owns three financial institutions which operate independently from each other:

• FOMO Pay – A major payment institution regulated under the Payment Services Act to conduct Cross-border Money Transfer Service, Domestic Money Transfer Service, Digital Payment Token Service, and Merchant Acquisition Service. The firm is currently building Asia's first licensed gateway helping institutions and businesses to connect between fiat and digital currency.
• CapBridge – A Capital Markets Services licensee licensed to deal in capital markets products, including securities and collective investment schemes, and provide custodial services. It is also an exempt financial adviser permitted to advise on investment products and to issue or promulgate analyses and reports on such investment products.
• 1exchange – A licensed and regulated private securities exchange with a Recognized Market Operator License, allowing companies and investors to list and trade regulated financial products and equity assets.

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SOURCE FOMO Pay