Independent governance review of a crypto exchange for retention of payment services

Lysis reviewed the exchange’s AML/CTF framework which resulted to a successful maturity assessment review.

Division
Consulting & Advisory
Industry

Crypto & Digital Assets

Service-line

Independent Governance Review of a Crypto Exchange

The Client

A U.K. domiciled crypto exchange with global reach.

The Challenge

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.

The Solution

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.

Results

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.

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