A U.K. Branch of a major Asian bank needed an in-depth review and enhancement of their AML governance framework. Lysis conducted a success review and drafted all required policies & procedures, and established a KYC Target Operating model.
Corporate, Wholesale and Investment Banking
KYC Remediation
The client needed an in-depth review and enhancement of their AML governance framework.
Lysis conducted an end-to-end review and enhancement of the client's AML Governance Framework. Furthermore, Lysis redrafted their entire AML policies and procedures covering KYC, Trade Finance, Transaction Monitoring, Treasury Services, Sanctions and Retail. We also established and chaired board level committees and conducted an end-to-end review and enhancement of the retail division of the firm. Lysis managed a team of analyst to review all existing clients and established a new KYC Targeting Operating Model.
Lysis successfully reviewed the firm's AML governance framework and drafted all required AML policies and procedures and finally established an effective KYC Targeting Operating model.
Our client was applying for Payment Services permissions from the Central Bank of Ireland and required support in defining and documenting the Governance and Compliance framework.
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.
Following a review from the Financial Conduct Authority (FCA) in 2021, and a subsequent letter from the regulator, the client had to address a number of gaps that were identified by the regulator.
