A major wholesale and retail bank with global reach had deficiencies it is AML governance framework and consequently with its KYC operations.
Corporate, Wholesale and Investment Banking
Financial Crime Framework Review and Enhancement
The London operations of a major wholesale and retail bank with global reach.
The firm was under pressure from the UK FCA to plan and execute a programme of work to fix the deficiencies.
Lysis worked with board members and senior management to review the firm's processes and controls from an AML perspective.
We then developed new policies and procedures covering client on-boarding/off-boarding, KYC, sanctions, PEP screening and transaction monitoring across Trade Finance, Treasury Services, FX and Money Markets and Securities Trading. A programme of training and embedding ensure that the new policies and procedures were implemented successfully.
Lysis advised the Board on the establishment and operation of a Financial Crime Escalation Committee to provide governance around AML and financial crime at a board and senior management level.
Lysis successfully implemented the incoming FATCA regulations for the firm, including policies, procedures and training.
Lysis provided a team to remediate all AML/KYC files to the new policies and procedures.
Finally we worked with the bank to re-engineer the KYC department as well as providing on-going Know Your Customer (KYC) and quality assurance (QA) support.
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.
A UK branch of a prominent Middle Eastern bank operating in the wholesale and correspondent banking space. The bank is subject to UK regulatory oversight and provides services to a range of international clients.
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.
