Following a review from the Financial Conduct Authority (FCA) in 2021, and a subsequent letter from the regulator, the client had to address a number of gaps that were identified by the regulator.
Payment Services & Card/ Merchant Acquirers
Financial Crime Framework Review and Enhancement
A UK-based alternative banking and payment platform that offers innovative pay-tech solutions to global clients.
Lysis worked closely with the client in preparing the letter of response to the regulator highlighting priorities and commitments linked to specific timelines which was detailed in a roadmap. Lysis also delivered a number of activities including the high-level design of a robust financial crime framework, rewrote their policies and procedures, uplifted the client's risk assessment and their financial crime governance structure, improved their Know Your Customer (KYC) processes and uplifted the Suspicious Activity Reporting (SAR) procedures. Last but certainly not least, Lysis also assisted with the drafting of the client's MLRO reports.
The merger of two global investment banks required the implementation of a single client onboarding firm structure and alignment of systems and procedure to a single global policy.
A UK domiciled crypto exchange with global reach had a regulatory requirement for crypto Money Laundering Reporting Officer (MLRO) support.
A UK domiciled crypto exchange with global reach had a regulatory requirement for crypto Money Laundering Reporting Officer (MLRO) support.
