Insights
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February 28, 2023
International financial crime watchdog the Financial Action Task Force (FATF) announced on 24 February 2023 that South Africa was added to its so-called "grey list" ...
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Lysis Group is an international governance and compliance advisory and business services group focused on the financial markets and other regulated sectors such as digital assets, gaming and real estate. We service a global client list from offices around the world since 2001. Our client list includes global players in capital markets, corporate and investment banking, wealth management, retail banking, fund management, payment services, gaming, digital assets and real estate.
Our teams have extensive experience in Governance, Compliance, Licensing & Permissions, Anti-Money Laundering (AML), Client Lifecycle Management (CLM), Know Your Customer (KYC) and other financial crime requirements.
As global governance & compliance experts, Lysis Advisory has an extensive track record of helping firms to gain and retain their regulatory permissions and achieve and maintain compliance with financial crime and other regulations.
Lysis has assisted clients with a range of governance and compliance programmes such as S166 remediations, SMCR and governance framework implementation.
We assist firms to obtain the required regulatory permissions to conduct regulated activities. This includes permission to register and trade as a crypto asset firm, payment services permissions and electronic money institution licenses.
With ever changing legislation, all firms should be vigilant in identifying and protecting themselves against potential money laundering activities. Lysis has extensive compliance officer experience having conducted multiple financial crime framework programmes and provided interim resources to many clients across all market sectors. We also have the necessary skills and experience to assist your firm to compile, review and optimise FC controls across the entire client lifecycle management (CLM) process.
We have extensive experience of the design and implementation of target operating models for CLM, CLM process improvement projects to drive significant efficiency gains, selection and implementation of systems and data sources and client data integration and management projects.
Since 2005 we have been delivering a cost-effective combination of operations services across the full spectrum of CLM and financial crime compliance including client on-boarding, ongoing monitoring screening, Know Your Customer (KYC) remediation & refresh, transaction monitoring remediation & real-time alerts review and our award-winning managed services. We have helped multiple firms across all sectors with major remediations and backlogs as well as providing BAU surge resourcing and managed services and our fully managed service for smaller firms covering the people, process and technology for client on-boarding, monitoring and review.
From KYC Remediations to Screening to Transaction Monitoring, we offer coverage across the entire CLM spectrum.
Our Managed Service Operational Risk Management Framework (ORMF) and Management Information (MI) blueprint have been designed to provide a clear view of status and risks and to integrate with your in-house reporting at all levels.
Our well-established on-shore capability in the U.K., Ireland and the US and our efficient near-shore capability in Cape Town, South Africa are both professionally equipped to provide bespoke CLM and AML services and support to all our global clients in a very cost-effective manner.
All our staff are typically highly experienced (analysts 3-10 years’ experience, SMEs over that) and cross-trained in AML, KYC, and other financial crime requirements … see Lysis Academy
While firms continue to standardise processes and controls to increase effectiveness and efficiency and invest heavily in automation, the “people” factor is not always taken into consideration for optimisation. As a result, the work output across teams and between teams in different locations is often inconsistent and of variable quality. In addition, firms, small and large, run significant inefficiencies across FC operations which could lead to a substantial increase in the cost of compliance. Lysis has a bespoke suite of training, capability development and quality standardisation services to support firms in maximising the capability and thus output of their teams.
Our bespoke tooling allows us to identify the profiles of high-performing AML analysts.
Lysis has supported the set-up of near/off-shore teams totalling in excess of 2,500 analysts for several of our large global customers. We can train teams from scratch or enhance the knowledge of teams via tailored training following our Training Needs Assessment. We can then support the early months of operations via expert QA/QC, coaching, etc
We can assess the effectiveness of teams from a knowledge and process perspective and work with management to improve both quality and throughput. We have found that fine-tuning the skills of a team can reduce processing times for AML work by 20-25%.
Our intensive training programmes for AML professionals ensure a solid knowledge base across FATF, best practice and local regulatory requirements as well as a thorough grounding in disciplines such as risk assessment, enhanced due diligence, identification of red flags and risk mitigation. We focus on the Why as well as the What and the How.
Lysis Gaming Compliance is our specialist division which provides our advisory, operations and training services to the gaming market. Customers include regulatory and licensing authorities, major global on-line gaming and gambling firms and smaller players. We also have extensive experience of working with banks and Payment Service Providers (PSPs) and often interface between the gaming sector and banks and PSPs and the gaming sector for account opening, compliance support and related activities.
We are perfectly positioned to support a number of different industries on a global scale. This is due to our unique, interconnected combination of services which have been developed deliberately to compliment and strengthen each other as well as to create a significant differentiation from other providers in the market.
Optimisation of financial crime (FC) controls has become a key focus point for firms, but this must be achieved in a cost-effective way, without compromising effectiveness or efficiency. We have the know-how to optimise your firm’s FC controls while reducing the short-and long-term costs linked to compliance.
For many early-stage, fast-growing firms, implementing anti-money laundering compliance controls and processes can be a challenge, especially as the business model evolves over time. We have the required expertise to help your start-up firm with their specific FC needs, in a cost-effective manner.
Firms often fail to recognise that bribery and corruption could significantly impede their growth and undermine their long-standing reputations. We have the necessary skills and expertise to help your firm with robust KYC processes and comprehensive anti-bribery and corruption (ABC) policies.
As the global demand for more transparent work ethics increases, fraud continues to be a major focus point for regulators. Therefore, having effective financial crime (FC) controls in place has become a priority for firms. We can help your firm with the design and implementation of a robust AML framework.
In recent years, the crypto asset landscape expanded rapidly and the regulations to govern this environment have also evolved exponentially. We can assist your firms with complex and contentious regulatory aspects regarding registration. We can also offer additional support in a regulated market. This includes the design, development, implementation, and enhancement of effective and robust FC frameworks to meet global regulators’ requirements and expectations in a sustainable manner.
Bribery and corruption often contradict the ESG objectives which is why global regulators and supervisory institutions are gradually applying a more focussed approach to the link between ESG and financial crime (FC). We have a unique blend of experience and specialised expertise to help your firm with the design and implementation of a robust AML framework.
Case studies
As financial crime compliance experts, we can 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.
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Meet our global leadership team who drives the firm’s strategic financial crime compliance goals and tactical objectives in a collaborative manner.
Latest INSIGHTS, NEWS, UPDATES & MORE
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.
Browse all PostsInternational financial crime watchdog the Financial Action Task Force (FATF) announced on 24 February 2023 that South Africa was added to its so-called "grey list" ...
Read more >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.
Read more >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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We service a global client list from offices in London, New York, Singapore, Dublin, Paris and Cape Town.
