Let us update you on all the latest news and trends that take place in the financial crime environment across the globe. You can look forward to industry news, statistical insights as well as us sharing our views on key aspects.

Insight
January 31, 2023
Crypto asset registration applications: getting it right the first time

The Financial Conduct Authority (‘FCA’) recently published their feedback on the quality of applications from firms wanting to register and trade as crypto asset firms in the UK.

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Insight
January 23, 2023
An award-winning Managed Service offering

Our managed service offering is fully configured to suit firms' individual risk appetites and operational controls and is perfectly adaptable to meet firms’policy requirements in a dovetailed manner.

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Insight
January 12, 2023
Is your AML Programme fit for purpose?

With a new year well on its way it is important for every Financial Institution (FI) to conduct an anti-money laundering (AML) Health Check and Maturity Assessment to review if their AML policies, procedures, and systems are fit for purpose.

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Insight
November 23, 2022
Regulations are the backbone of strong financial systems

The recent collapse of crypto exchange FTX has sparked investigations ...

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Insight
November 21, 2022
FATF Grey List- The Tussle with Gibraltar

The Financial Action Task Force(FATF) is an intergovernmental body founded in 1989 on the initiative ...

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Insight
November 15, 2022
Ensure that your firm has a clean bill of health

“Health checks and maturity assessments are the first steps in assessing a firm’s financial crime (FC) framework because it depicts the current state ...

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Insight
November 14, 2022
Providing effective remediation solutions

Lysis was approached to assist a large privately owned bank in the Caribbean region, which provides services to numerous clients from the ...

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Insight
November 4, 2022
Virtual currency compliance is a reality

In what is referred to as a “record-high” penalty, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and ...

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Insight
October 31, 2022
Projects on the GO

Even though there are several exciting projects on the go for Lysis, there are two projects we would like to highlight to illustrate our ...

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Insight
October 20, 2022
We have the expertise to work with firms like yours

The momentum from the first quarter continued into the second quarter of 2022 for Lysis, across our financial services, online and ...

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Insight
October 18, 2022
From gambling to laundering

The Australian casino business sector has been under intense scrutiny during the last three years following serious allegations of money ...

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Insight
October 14, 2022
We can help you navigate through the crypto asset registration process

According to recent media reports, lawmakers have criticised the Financial Conduct Authority (FCA) because of their slow response to ...

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Insight
October 6, 2022
Removing the complexity from the crypto asset registration process

In recent years, the cryptocurrency landscape expanded rapidly and the regulations to govern this environment have also evolved ex...

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Company Update
October 5, 2022
We have the expertise and experience to work with firms like yours

This year has been a busy year so far for Lysis Group, across our financial services and crypto clients. In the first quarter of ...

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Insight
September 29, 2022
ESG: All about responsibility and accountability

ESG refers to three main factors namely environmental, social and governance which are considered when measuring sustainability an...

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Insight
September 27, 2022
Shades of Grey: KYC process is not simply black and white

There has been a lot of noise in recent months about South Africa facing the possibility of being “grey listed” due to a poor scor...

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Insight
September 23, 2022
German authorities raid Russian oligarch’s properties

According to The Guardian newspaper, a dedicated unit of more than 250 German police officers raided several properties in Bavaria...

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Insight
September 7, 2022
The link between human trafficking and money laundering

“Human trafficking is one of the most profitable crimes in the world and a significant pipeline for money laundering”, according t...

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Insight
September 2, 2022
Warning Shots Fired

Last week Ladbrokes owner, Entain was ordered to pay £17m after they failed to implement sufficient checks in order to support str...

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Insight
August 17, 2022
The optimum balance between cost effectiveness, efficiency, and quality

Firms are constantly looking for ways to increase efficiencies and to reduce costs which is why more firms are considering the ben...

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Insight
August 15, 2022
Sanctions management is key

The sanctions against Russia have introduced one of the largest changes to sanction lists in recent years and have far-reaching im...

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Insight
August 9, 2022
Tick all the boxes of financial crime compliance

There are many factors that contribute to the rising cost of financial crime (FC) compliance including the growing complexity of c...

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Insight
August 4, 2022
The regulator issued a stern warning to South African banks

Last week, the Prudential Authority of the South African Reserve Bank published their 2021 report which indicated that South Afric...

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Insight
July 28, 2022
Optimising client date through remediation

The global compliance landscape is becoming increasingly complex which means that effective remediation is rarely simplistic. Acco...

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Insight
July 21, 2022
A more targeted approach in Know Your Customer practises

Chris Oliver from Lysis Group stated that the global prevention of money laundering remains a challenge for both regulators and fi...

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Insight
July 14, 2022
Cutting - Edge

Founded in 2014, Edge is a start-up technology firm based in San Diego and recently announced their collaboration with Mastercard ...

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Insight
July 13, 2022
Our cost effective on-shore/near-shore operating model

Lysis has well-established on-shore and near-shore capabilities in North America, Europe, and Asia-Pacific countries (APAC) which ...

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Insight
July 7, 2022
Our fully configured managed service offering

In any regulated industry, firms must consider how they can improve the quality and performance of their customer operations. Ques...

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Insight
June 30, 2022
Targeted legislation can curb money laundering activities

Australia’s real estate market has been a contentious political issue since the 1990’s with the centre of the problem being the ev...

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Insight
June 28, 2022
Closing The Loop

Earlier this month, the BBC reported that MPs from Northern Ireland, (NI) were lobbying to close a loophole, alleged to facilitate...

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Insight
June 21, 2022
The anticipated Tranche 2 legislation for Australia

The anti-money laundering (AML) and Counter-Terrorism Financing (CTF) Tranche 2 legislation consultation phase is expected to be c...

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Insight
June 17, 2022
A risk-based approach can reduce the cost of compliance

In recent years, there has been a substantial increase in the cost of compliance across the globe. This is supported by credible s...

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Insight
June 9, 2022
Cryptoassets: the ever-prevalent need for regulatory oversight

Last year the Chinese police made their first arrest for Central Bank Digital Currency (CBDC) money laundering. Chinese officials ...

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Insight
June 8, 2022
Sanctions pack a powerful punch

Friday the 3rd of June marked the 100th day of the war in Ukraine after Russia invaded the country on the 24th of February. Althou...

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Insight
May 25, 2022
Effective output can be managed when it can be measured

As the pressure increases for firms to adhere to anti-money laundering regulations to remain compliant, the standardisation of cap...

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Insight
May 20, 2022
The FCA highlights possible crime control shortfalls at challenger banks

The Financial Conduct Authority (FCA) sets out to conduct regular testing of new business models when they operate in the UK as pa...

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Insight
May 18, 2022
The crypto capital of the world is still to be decided

Cryptoassets and their capabilities are becoming very popular topics of discussion in boardrooms. Many of these discussions also i...

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Insight
May 10, 2022
Interesting findings on name screening practises

The Monetary Authority of Singapore (MAS) recently published a report which highlights and summarises their findings on name scree...

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Insight
May 10, 2022
Technology is changing the concept of money

When we take a long-term approach, it becomes clear that technologies, in all it’s different variations, are changing the concept ...

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Insight
May 5, 2022
Money laundering has many layers

Money laundering, a practise that can be traced back to ancient China almost 2000 years ago, involves attempts to obfuscate the or...

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Insight
April 28, 2022
Non-fungible tokens: the next big thing or not

Non-fungible tokens or NFT’s are the new buzzwords in the cryptoasset world and various experts speculate that these tokens might ...

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Insight
April 26, 2022
The complexities of Customer Due Diligence (CDD)

Just as it is in the best interest of an employer to thoroughly vet a potential employee, financial firms have the same obligation...

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Insight
April 21, 2022
Meet the cryptoasset registration experts

In recent years, the cryptoasset landscape expanded rapidly but the regulations to govern this environment has also evolved expone...

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Insight
April 19, 2022
The value of a sustainable and robust Financial Crime (FC) Framework

In recent years, organisations across the globe have experienced enormous pressure and challenges regarding compliance with anti-m...

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Insight
April 13, 2022
There is safety in numbers: cryptoassets in a regulated market

According to a recent article in the mainstream media, the UK government indicated that they want to become a ‘global hub’ for the...

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Insight
April 12, 2022
The Importance of Knowing Your Customer

As part of Lysis Group, Lysis Operations is a dedicated banking operations business that provides Know Your Client (KYC) file proc...

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Insight
April 5, 2022
Financial sanctions: the pressure is on - part 5

Successful registration of cryptoasset firms in a regulated market Due to the recent financial sanctions, Russian oligarchs are ex...

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Insight
April 4, 2022
Sustainable Financial Crime Compliance

There are many factors that contribute to the rising cost of financial crime (FC) compliance including the limitations placed on t...

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Insight
March 31, 2022
Financial sanctions: the pressure is on - part 4

Customer due diligence is a key component of the puzzle The use of proxies to execute deals is widespread amongst Russian oligarch...

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Insight
March 30, 2022
Financial sanctions: the pressure is on - part 3

Having a holistic client view has never been more important The recent financial sanctions against Russia resulted in the net bein...

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News
March 30, 2022
Cryptoassets play a key role in the global financial system

Lysis Group hosted a live webinar on 29 March 2022 that specifically focussed on cryptoassets in the current sanctions’ environmen...

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Insight
March 24, 2022
We provide sustainable, yet affordable CLM/AML expertise

You might have seen the recent press release regarding Lysis Group opening a near-shore Client Lifecycle Management (CLM)/Anti-mon...

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Insight
March 18, 2022
Financial sanctions: The pressure is on - Part 2

Sanctions screening are becoming more complex The sanctions against Russia have introduced one of the largest changes to sanction ...

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Insight
March 17, 2022
Screening and monitoring have never been this effective

Regulated financial service companies, estate agents and law firms have a legal and regulatory obligation to continuously screen a...

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Insight
March 15, 2022
Financial sanctions: The pressure is on - Part 1

Gage your firm’s risk appetite and risk assessment The recent financial sanctions against Russia have far-reaching implications fo...

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News
March 14, 2022
Lysis offers a unique on-shore/near-shore AML operations delivery model in South Africa

Founded in 2001 Lysis Group provides Financial Crime Compliance (FCC) and Client Lifecycle Management (CLM) services to financial ...

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Insight
March 3, 2022
Anti-war measures are seldom military grade

During the last two weeks, the United States (US), the United Kingdom (UK), Canada and the European Union (EU) have hit Russia wit...

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Insight
February 24, 2022
Successful Transaction Monitoring: Overcoming Challenges

Transaction monitoring is a key part in the defence against money laundering and financial crime. It is the process of identifying...

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News
February 23, 2022
Lysis opens in Australia providing AML & CLM services to regulated markets

After delivering many successful projects supporting client businesses in Australia, Lysis is proud to announce the formal establi...

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News
February 14, 2022
Anne Maria Rothenstein joins Lysis Group board

Lysis Group is proud to announce the appointment of Anne Maria Rothenstein as a board member of Lysis Group, effective January 19,...

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Insight
February 14, 2022
Optimising Customer Risk Rating Methodologies (Part 3)

Once again, hello readers! Welcome back for Part 3 of ‘Optimising Customer Risk-Rating Methodologies’ (CRRM). Today, we shall disc...

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Insight
February 11, 2022
Transform your Client Lifecycle Management Process

Focused on the entire chain of client transactions, and designed to produce easily-digestible results, Client Lifecycle Management...

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Insight
February 9, 2022
Crypto Challenge. Operating in a Regulated Market

Over the past two years there has been a rise in new cryptoasset services and service providers. With the increasing confidence th...

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Insight
February 8, 2022
The Importance of Screening Alert Support & On-Going Monitoring Managed Service

Regulated financial service companies, estate agents and law firms have a legal and regulatory obligation to carry out ongoing mon...

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Insight
February 8, 2022
Optimising Customer Risk Rating Methodologies (Part 2)

Welcome back, avid readers! We hope you had a wonderful weekend, and welcome to Part 2 of ‘Optimising Customer Risk-Rating Methodo...

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Insight
February 2, 2022
Ouch… Not Again

Is it not amazing that a person convicted of a white-collar crime, Fraud, Market Manipulation, can make one error that sends them ...

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Insight
February 1, 2022
The Importance of an AML Maturity Assessment to Ensure an Effective AML Risk Framework

To ensure that a Financial Institution (FI) is always fully compliant with the relevant legislation relating to Financial Crime an...

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Insight
December 2, 2021
Are you prepared for ESG?

Just as financial services firms get used to the likes of AML Regulations, Market Abuse, Anti-Bribery & Corruption, and Brexit…..t...

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Insight
November 12, 2021
The extraordinary criminal proceedings against NatWest

Financial institutions receiving hefty fines by their regulators for poor anti-money laundering (AML) controls is nothing new, but...

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Insight
October 28, 2021
Regulatory Fines: Is this the ‘New Normal’

We live in a time where bribery and corruption scandals seem (sadly) more prevalent than ever. A surprising story surfaced this we...

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Insight
October 21, 2021
What the Pandora Papers reveal and what can be done about it

Photo credit: ICIJ After the Panama and Paradise Papers, we now have the Pandora Papers and it is safe to conclude that – despite ...

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News
October 7, 2021
Gabriel Cozma joins Lysis Group as Head of Lysis Financial and FinTech

Lysis Group is proud to announce the appointment of Gabriel Cozma as the Head of Lysis Financial and FinTech, and a member of the ...

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Insight
July 6, 2021
Wine, Cheese and Cryptos

A glimpse at AML & Cryptoassets in France To everyone’s knowledge, the French nation is passionate about good cheese, excellent wi...

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Insight
June 10, 2021
Crypto: Falling Short of Regulatory Requirements

In today’s market, Cryptocurrency firms are ever more prevalent. In the UK, there are over 200 Cryptocurrency firms alone with ove...

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Insight
May 28, 2021
AML Compliance on Tap

As many of us in the industry are aware, the Financial system is governed by various bodies and regulators. In the United Kingdom,...

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Insight
May 24, 2021
THE RISE OF NEW HYBRID BANKING

CRYPTO-BANKS The traditional banking system has, (for a long time), been developed on trust. The rise of Fintech companies and Cr...

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Company Update
May 4, 2021
Lysis Group launches AI-driven Off-Grid Workflow (OGW) solution for Client Lifecycle Management

Designed to mitigate rapidly rising costs of financial crime and AML activities AI solution targets the 30-50% of workflow such as...

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Insight
December 9, 2020
CORRUPTION AND MONEY LAUNDERING: THE CURRENT PANDEMIC SCENARIO

The two scourges of Corruption and Money Laundering are so interdependent, intertwined, and inseparable that they have assumed an ...

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Insight
December 2, 2020
The Halo Effect: Regulatory Lessons from Formula 1

29th of November 2020… Lap one. It’s 4pm local time in Bahrain and all drivers are lined up on the Formula 1 (F1) grid to start th...

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News
December 1, 2020
Damilola Taylor Trust Career Pathway Programme: Work in The City

“The Damilola Taylor Trust (DTT) was established in May 2001 in memory of Damilola Taylor who was tragically killed in 2000 by an ...

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Insight
November 20, 2020
Banking Secrecy Act- 2021 Update

What is the Banking Secrecy Act? The Bank Secrecy Act (BSA) of 1970, also known as the Currency and Foreign Transactions Reporting...

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News
November 17, 2020
Lysis brings its AML & CLM services to Hong Kong

After delivering many successful projects supporting client businesses in Hong Kong, Lysis is proud to announce the formal establi...

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Insight
November 16, 2020
Cayman Islands - KYC Requirements Summary

Knock knock Who’s there? 2020. 2020 Who? This year has been a hard and interesting year for all. With Covid-19 dominating the news...

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Charity Update
September 30, 2020
Bring hope to young people - Hope 2020

This webinar will showcase the background and vision behind the Hope 2020 campaign; a campaign where young people and their hope a...

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Insight
July 28, 2020
FINTECH INSIGHT JULY 2020: THE PARTNERSHIP BETWEEN TECHNOLOGY & FINANCIAL CRIME CONTROLS

According to the FCA, fraud costs the UK £190 billion per year and constitutes around 33% of all crimes that we encounter as indiv...

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News
July 16, 2020
Court of Justice of the European Union fines two member states for AML failings

The Court of Justice of the European Union today fined Romania EUR 3 million & Ireland EUR 2 million for failure to transpose in f...

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Insight
July 9, 2020
Over 40% of Europe fails to meet basic money laundering requirements

The European Commission acted in its July 2020 infringement package against eight more Member States that have failed to implement...

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News
June 15, 2020
Lysis Financial responds to FCA Short Consultation - Coronavirus & Safeguarding Customers' Funds

FINANCIAL CONDUCT AUTHORITY (FCA) Coronavirus and safeguarding customers’ funds: proposed guidance for payment firms Our comments ...

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Insight
June 11, 2020
Westpac’s AML & CTF Failings

On June 4th 2020 Westpac, an Australian bank, released the results of its investigation into its own anti-money laundering (AML) a...

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Insight
May 29, 2020
Adapting to work life at home: a chat with Shola

Living in lockdown can be different for everyone, or very similar! We’ve had a chat with one of our personnel to see how they are ...

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Insight
May 28, 2020
A win for the people of Nigeria

Earlier this month a team of prosecutors from the US led Kleptocracy Asset Recovery Initiative in partnership with the FBI, secure...

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Insight
May 26, 2020
FCA targets payment firms with latest proposed guidance

The FCA chose 5pm on the Friday before the Spring Bank Holiday weekend to launch its latest initiative to tighten control on payme...

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Insight
May 20, 2020
COVID-19: The Impact on Regulatory Operations & Payments Within the Financial Service Industry

Introduction Lysis Financial researched the impact the coronavirus COVID-19 has had on regulatory operations and payments within t...

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Insight
May 19, 2020
Key Elements of an Effective AML Framework for PSPs

The punishment for falling short of AML regulatory requirements for PSPs is severe and the risks are high. It is essential for PSP...

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Insight
May 13, 2020
Money Laundering Risks Associated With Payment Service Providers (PSP)

The nature and level of risk a PSP will be exposed to in relation to money laundering will be directly correlated to the nature of...

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Insight
May 11, 2020
The Anatomy of Money Laundering Risks Associated with the PSP Industry & How to Mitigate Them

The payment industry has seen explosive growth in recent years. The advent of card-less payment has increased the need for technol...

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Insight
May 6, 2020
Overcoming The Challenges Of a S166 Skilled Person's Review

Most banks operating in the UK will be aware of the regulators’ box of supervisory tools, especially the one described under secti...

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Insight
May 4, 2020
Lysis is Staying Active

For our second Vlog, we at Lysis wanted to focus on what makes us healthy and happy. Two very important things during lockdown! Ta...

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Insight
May 4, 2020
BRIEFING NOTE

FATF : UAE : MUTUAL EVALUATION REPORT ‘[The UAE] must take urgent action to effectively stop the criminal financial flows that it...

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Insight
April 28, 2020
KOREAN BANK SANCTIONS VIOLATIONS

The Industrial Bank of Korea has been made to pay $86million by the U.S. Department of Justice in a settlement resulting from crim...

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