Operations & Resourcing

KYC Remediation

A major European wholesale and investment bank with global reach was put under a Section 166 order due to regulatory concerns regarding their KYC and AML controls.

The Client

A major European wholesale and investment bank.

The Challenge

Following a visit from the regulator the firm was put under a Section 166 order due to concerns around their Know Your Customer (KYC) and anti-money laundering (AML) controls.

The Solution

Lysis worked with the bank’s AML operations team to provide the following services:• Mobilised 55 KYC Subject Matter Experts (SME’s) and embedded an operational and management structure to work according to the client’s demands.• The team was based in Lysis’ AML Operations Centre in London.• The service included remediation of all KYC and due diligence records, screening for sanctions, Politically Exposed Persons (PEP’s) and adverse media and enhanced due diligence as needed. • Detailed Management Information (MI) and progress reporting were provided on a regular basis.• Lysis remediated thousands of high, medium, and low risk cases.• They Supplied the management and team resources to cover all KYC remediation.• Lysis managed the pipeline and volume/throughput.• They were also responsible for quality management, process improvement and metrics/MI.


Lysis successfully worked with the client to pass the regulatory Section 166 review and completed thousands of KYC reviews in line with regulatory deadlines.

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