A London based financial institution with global reach asked Lysis to perform a review of their AML governance framework.
Corporate, Wholesale and Investment Bank
Financial Crime Framework Review and Enhancement
Lysis deployed a team of AML and regulatory specialists to carry-out a review of the firm's governance framework relating to AML. They also reviewed all policies and procedures relating to AML, ABC and sanctions and reviewed and tested all operational processes and systems relating to AML including KYC and transaction monitoring. In addition, Lysis interviewed all key staff from executive management to operational staff in order to establish the level of understanding and cultural awareness around AML and compliance. They further tested the Three Lines of Defence model in the firm to review its effectiveness.
Our client was in the middle of an extensive regulatory remediation for the Central Bank of Ireland and the remediation.
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.
The client is incorporated in Ireland as an Irish Collective Asset-management Vehicle (ICAV). The client is an American investment fund which specialises in lending large amounts of money to various entities ranging from listed entities to unregulated entities based in the USA.
