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 major European wholesale and investment bank with global reach was put under a Section 166 order due to regulatory concerns regarding their KYC and AML controls.
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.
Efficiency improvements post-go-live at a global securities house to remove bottlenecks and restore operating efficiency after a Fenergo implementation. Lysis supported a global wholesale and investment bank during its Fenergo implementation and then worked alongside the bank to streamline the post go-live operating and processing model
