A crypto asset firm domiciled in the US asked Lysis to support the firm’s financial crime framework and policy creation for transaction monitoring across the UK, US, and for the rest of the firm’s global customer base to improved risk management, quality and increased operational efficiency.
A crypto asset firm domiciled in the US.
Lysis was asked to support the firm’s financial crime framework and policy creation for transaction monitoring across the UK, US, and for the rest of the firm’s global customer base to improved risk management, quality and increased operational efficiency. There was also a requirement to assemble a large KYC and Transaction Monitoring team very quickly.
Therefore, within a four-week period, Lysis was able to provide the client with a team of 60 analysts who had extensive experience in all aspects of financial crime compliance and who could add value to the project for the start. Lysis also conducted a root cause analysis of the firm’s processes and created bespoke process flow for transactions monitoring which complied with the Financial Conduct Authority (FCA) and anti-money laundering (AML) guidelines. Lysis also reviewed and investigated transactional activities to identify any suspicious activities of money laundering or terrorist financing and even managed the Know Your Customer (KYC) reviews. Furthermore, Lysis created and maintained accurate and concise records of all investigations undertaken including details on the rationale for any decisions made. Any unusual and suspicious client activities were escalated via the escalation process to the Suspicious Activity Reporting Unit.
Lysis assisted the client successfully to implement effective workflows linked to transaction monitoring and provided a large team of experienced analysts in a very short period of time. Last but certainly not least, Lysis also provided constructive advice and support to the business units on the identification of areas of risk based on the latest transaction monitoring trends.