Our client had been advised that their AML provisions were not up to the required standard and wished to remedy this before regulatory sanctions were imposed.
Payment Services & Card/ Merchant Acquirers
UK Payment Services Provider
Our client had been advised that their AML provisions were not up to the required standard and wished to remedy this before regulatory sanctions were imposed.
Lysis provided a team of compliance experts to review the AML framework, governance and operating model and to provide a report summarizing the strengths and weaknesses found. The report also included recommendations to fix areas that were considered below par. The board of the firm accepted the report and Lysis was then asked to draft enhanced AML framework documents, policies and procedures.
A large U.S. based end-to-end human resources management firm and Lysis delivered a solution for the newly established UK/EU subsidiary which forms part of the SEC regulated entity.
A major wholesale and investment bank with global reach was placed under a Section 166 order regarding their KYC and AML controls.
Following a review from the Financial Conduct Authority (FCA) in 2021, and a subsequent letter from the regulator, the client had to address a number of gaps that were identified by the regulator.
