Operations & Resourcing

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Retail Banking

Transaction Monitoring

A European Retail Bank with over 4000 employees globally had a tight regulatory deadline to review five years of transactions to identify suspicious transaction and cases of money laundering and/or terrorist funding.

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The Client

A European Retail Bank with over 4000 employees globally.

The Challenge

Working with a tight regulatory deadline to review five years of transactions to identify suspicious transaction and cases of money laundering and/or terrorist funding.

The Solution

Lysis rapidly deployed of a team of transaction monitoring specialist and senior regulatory consultants and completed a review of 800 personal and savings accounts by producing a standard template for each customer, capturing both Know Your Customer (KYC) and anti-money laundering (AML) transactional information with evidentiary support where appropriate. Lysis also Identified and reported to the bank's senior management team, outlining any key areas of concerns related to AML and presented the findings, conclusions, and any further recommendations to the bank.

Results

Lysis successfully identified deficiencies in the way in which the reviews of these cases had formerly been done which allowed the client to take positive remedial steps remain compliant with regulatory requirements.

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