A London based financial institution with global reach asked Lysis to perform a review of their AML governance framework.
Corporate, Wholesale and Investment Banking
Financial Crime Framework Review and Enhancement
Lysis deployed a team of AML and regulatory specialists to carry-out a review of the firm's governance framework relating to AML. They also reviewed all policies and procedures relating to AML, ABC and sanctions and reviewed and tested all operational processes and systems relating to AML including KYC and transaction monitoring. In addition, Lysis interviewed all key staff from executive management to operational staff in order to establish the level of understanding and cultural awareness around AML and compliance. They further tested the Three Lines of Defence model in the firm to review its effectiveness.
Our client had implemented a new transaction monitoring system and wished to ensure that the previous two years' transactions had been monitored effectively.
Our client had a substantial backlog of transaction alerts. They were concerned that these included a number of true positives that therefore indicated suspicious activity and required reporting.
A major wholesale and retail bank with global reach had deficiencies it is AML governance framework and consequently with its KYC operations.
