A UK-crypto asset subsidiary of a Nasdaq-listed firm in the U.S. has a requirement to review their anti-money laundering (AML) policy framework and idetify possible gaps in line with FCA requirements.
UK-crypto asset subsidiary of a Nasdaq-listed firm in the United States.
This called for a health check which consists of a high-level review of the design of a firm’s FC framework to identify problem areas.
Lysis reviewed the client’s policy framework and made recommendations for uplifting the policies based on identified gaps. From a content perspective, this included a review to determine if the policies are documented and aligned with the firm’s standards across all the business sectors.Testing of the controls can only take place once all the policy recommendations were embedded into the client’s policy framework. Ineffective policies by design will result in ineffective implementation and this will impact the testing of controls negatively.
Lysis provided the client with a detailed report that contained the findings of the review. The report helped the firm to conduct a gap analysis against their current approach to AML and current regulatory requirements which allowed the firm to gain a detailed and independent understanding of its AML governance framework.
A US corporate bank in the UK needing BAU On-boarding resources
A major Egyptian bank with UK operations had a requirement to identify possible AML and CTF gaps and suggested improvements.
A crypto asset firm domiciled in the US asked Lysis to support the firm's financial crime framework and policy creation for transaction monitoring across the UK, US, and for the rest of the firm's global customer base to improved risk management, quality and increased operational efficiency.
