Lysis conducted a review of the firm's AML Governance and Compliance capabilities and authored a report of recommendations which was presented to the European board.  

The recommendations included:

• Restructuring of compliance governance to be an effective second line of defence, independent of business heads.
• Implementation of more effective transaction monitoring processes and systems.
• Stronger liaison with the firm's banking partners so that the effectiveness of other parts of the compliance operation was more obvious.

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Our client then asked Lysis to work with them to implement the changes above, including liaising with the bank to make sure they were happy with the new arrangements. Lysis was also asked to take over the transaction monitoring operation on an on-going basis.