A major European-domiciled Cryptoasset Exchange with global reach required a gap analysis to identify all deficiencies in their Customer Risk Rating Model and a roadmap for improving it.
Crypto & Digital Assets
Financial Crime Framework Review and Enhancement
A major European-domiciled Cryptoasset Exchange with global reach.
The client had a requirement to design a new AML Customer Risk Rating Methodology (RRM) to facilitate the risk assessment of its customers.
Lysis conducted a gap analysis to identify all the deficiencies of the current risk rating methodology. A roadmap was subsequently designed which laid out a plan for implementing the suggested enhancements. The process included an in-depth analysis to demonstrate the various cross-jurisdictional compliance requirements, including the identification and weighting of those risk factors specific to their business and industry. The next step consisted of the testing of a new Customer Risk Rating Methodology on a sample of the client's customers to determine the impact on their Customer AML Risk Rating and thereby ensuring that the results aligned with expectations in terms of the Risk-based Approach. Lastly, Lysis conducted User Acceptance Testing (UAT) of the new AML Customer Risk Rating Methodology.
A U.K. Branch of a major Asian bank needed an in-depth review and enhancement of their AML governance framework. Lysis conducted a success review and drafted all required policies & procedures, and established a KYC Target Operating model.
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.
A Norway-based crypto broker registered with the Norwegian Financial Authorities. The client had rapidly scaled its operations to meet growing demand in the crypto sector but faced increasing regulatory scrutiny from both national and European regulators.
