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.
Retail & SME Banking
Transaction Monitoring Remediations and Alert Backlogs
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.
A crypto asset custodian based in the U.K. with global reach approached Lysis with the request to assist them with the process to obtain registration from the FCA which would enable them to operate in the UK market as a crypto asset business. Due to the holding company’s strong global footprint, part of the FCA requirements for registration included the need for a UK based money laundering reporting officer (MLRO).
Our client wished to ensure that it had all UK regulatory requirements covered by policy, procedures and controls.
Our client had a requirement to review and update its AML Framework to take account of the Fifth Money Laundering Directive and also some changes in its business model.
