Our client was setting up a new online gaming licensing authority and sought a partner to on-board licensees and to manage the on-going governance and compliance operation.
Gaming Compliance
An Online Gaming Licensing Authority
Our client was setting up a new online gaming licensing authority and sought a partner to on-board licensees and to manage the on-going governance and compliance operation.
Lysis defined the compliance framework (view case study) and set up the operation including on-boarding and compliance specialists across first, second and third lines of defence. We also worked with technology partners to establish the operating framework and system support for the licensing body. We are now reviewing, and if successful on-boarding, an extensive book of elevated risk licensees including running a full AML enhanced due diligence process as well as examining their general gaming (e.g. responsible gambling) and technical (e.g. game certification) compliance. We are also running the on-going operation including regulatory reporting and continuous monitoring of the licensees in terms of their regulatory and technical compliance.
A prominent security services firm that forms part of a French multinational investment bank and financial services company asked Lysis to assist with the securities/back-office function within the multinational investment bank.
Lysis designed and implemented a compliance monitoring framework for a UK-regulated EMI. The aim of the framework was to ensure ongoing compliance with the Electronic Money Regulations 2011 (EMRs), including with the Money Laundering Regulations 2017 (MLRs).
Our client had a substantial backlog of transaction alerts. They were concerned that these included a number of true positives that therefore indicated suspicious activity and required reporting.
