‍

The momentum from the first quarter continued into the second quarter of 2022 for Lysis, across our financial services, online and retail, and crypto asset clients. We successfully delivered the following projects:

• US investment fund incorporated as an Irish Collective Asset-management Vehicle (ICAV) – assisted the client under the Irish legislation which is the Criminal Justice (Money Laundering and Terrorist Financing) Act of 2010 and provided end-to-end KYC operations which was managed by Lysis’ secure nearshore Cape Town-based operating centre.
• US crypto asset firm with global reach – completed a regulatory-driven KYC and Transaction Monitoring Remediation to tight deadlines using a team of 60+ to remediate 100,000s of cases and alerts and escalated red flags to the Suspicious Activity Reporting Unit.  Remediation was to both UK & US standards.
• Banking platform offering global pay-tech solutions – Engaged with the FCA on behalf of the client. Designed a FC framework, rewrote policies and procedures, uplifted the risk assessment and financial crime governance structure, improved their KYC processes and uplifted the SAR procedures.
• Large US tech bank – training and operational support for building out their off-shore CLM/AML capabilities, execution of a major KYC remediation to both UK and US standards and retained support for their on-boarding and refresh activities.
• UK-based subprime lender – Redesigned and implemented a FC framework, redrafted policies and wrote additional policies, in readiness for the launch of a new product. Engaged with third-party providers to ensure their functionality for on-boarding, screening, transaction monitoring, management of alerts etc., were aligned with the client’s policies and procedures.
• Specialist mortgage lender and retail bank – the client acquired another regulated bank and Lysis established effective screening and customer due diligence remediation programmes, including a discovery process where gaps were highlighted, and remediation recommendations were made to report to the FCA.
• UK-based software business specialising in online gambling – client conducts business in high-risk jurisdictions and Lysis made recommendation regarding the specific AML and FATF requirements within these high-risk jurisdictions and provided a risk-rating methodology, sanction screening training, a FC risk - and governance framework.
• Global investment bank – retained support for their on-boarding and refresh activities including Brexit-driven book migrations and MI, controls, and governance support.
• Banking qualifications provider – supported AML training for Middle Eastern customers.

As financial crime compliance experts, we are perfectly positioned to support financial service institutions including wholesale and investment banks, payment services and cards, wealth managers, challenger banks and firms from a range of other regulated industries, including crypto asset firms.