Financial Crime Governance Framework design for a Crypto Asset firm

A new to market crypto asset business domiciled in Ireland received a regulatory requirement from the Central Bank of Ireland to design and embed a financial crime, AML/CTF, governance framework.

Division
Consulting & Advisory
Industry

Crypto & Digital Assets

Service-line

The Client

A new to market crypto asset business domiciled in Ireland.

The Challenge

A regulatory requirement from the Central Bank of Ireland to design and embed a financial crime, AML/CTF, governance framework.

The Solution

Lysis worked closely with the client to design an AML/CTF framework which would enable registration with the Central Bank of Ireland as a crypto asset business which included the drafting of a crypto related financial crime risk appetite statement, bespoke AML/CTF policies and procedures, the design of a financial crime risk committee terms of reference and the documentation of the Money Laundering reporting Officer (MLRO) roles and responsibilities for crypto asset risk management.

Results

Lysis successfully designed a financial crime governance framework that will enable the client to register successfully with the Central Bank of Ireland as a schedule two regulated crypto asset firm.

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