Lysis reviewed the exchange’s AML/CTF framework which resulted to a successful maturity assessment review.
Crypto/ Digital Assets
Independent Governance Review of a Crypto Exchange
A U.K. domiciled crypto exchange with global reach.
A requirement from the client’s payment processing partner to carry out an independent maturity assessment review of the exchange’s governance framework and operational controls.
Lysis conducted an independent maturity assessment of the exchange’s AML governance framework including the operational systems and controls utilising the Arctic Intelligence AML HealthCheck solution.
Lysis reviewed the exchange’s AML/CTF framework which resulted in the assessment where a percentage of 83% fully compliant were achieved and 17% achieved partial compliance, meaning compliance requirements were met but some gaps were identified. A remedial programme was set up for the 17% and consequently the payment processing partner was happy to keep the facilities open.
Our client wished to outsource the Client On-Boarding and AML Operations for its merchant acquiring business in Europe, replacing their current major global outsourcing partner.
A major wholesale and retail bank with global reach had deficiencies it is AML governance framework and consequently with its KYC operations.
Our client was looking at options for the location of new Level 2 teams to support retail customers with affordability and suitability issues.
