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
Innovation, Authorisations & Banking Solutions
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.

Ready to chat about how we can help you?
Get in touch today!
Get in Touch
Other Case Studies
Browse Case Studies
Operations & Resourcing
Corporate and Counterparty KYC Remediation and Golden Data Source Creation for a Global Inter-dealer Broker
Corporate, Wholesale and Investment Banking

A major bank with two major trading entities wished to decrease time-to-trade processing overheads for new customers and for new products for existing customers.

Consulting & Advisory
Enhancement of AML Governance Framework and KYC Remediation
Corporate, Wholesale and Investment Banking

A major wholesale and retail bank with global reach had deficiencies it is AML governance framework and consequently with its KYC operations.

Innovation, Authorisations & Banking Solutions
Client Monies Safeguarding Review and Remediation at a UK EMI
Payment Services & Card/ Merchant Acquirers

Assessment and remediation of the client monies safeguarding arrangements at a UK EMI.