The incoming Head of Compliance at our customer identified that Client Monies were not being managed as per regulation and this therefore required an immediate remediation.
Payment Services & Card/ Merchant Acquirers
UK Credit Card Provider
The incoming Head of Compliance at our customer identified that Client Monies were not being managed as per regulation and this therefore required an immediate remediation.
Lysis reviewed the firm's operating model including a partnership with a digital assets firm whereby they offered both fiat and crypto wallet capabilities. The management of client monies across this fiat/crypto service set was not correctly set up, leaving our client open to FCA censure. Lysis worked with the firm to define the correct model for client money safeguarding and helped them set up the correct client money bank accounts and a new accounting, reconciliation and reporting framework. We were then able to demonstrate to the FCA that the issues had been resolved and that client monies were being correctly safeguarded.
A prominent security services firm that forms part of a French multinational investment bank and financial services company asked Lysis to assist with the securities/back-office function within the multinational investment bank.
A London based financial institution with global reach had Lysis preform an AML Health Check.
A major estate agency had a need to establish a Know Your Customer (KYC) function which was able to scale and undertake a remediation exercise to meet new regulatory requirements (i. e. , 4MLD) and to build out a business as usual (BAU) function to service ongoing requirements.
