Lysis reviewed the exchange’s AML/CTF framework which resulted to a successful maturity assessment review.
Crypto & Digital Assets
Independent Governance Review of a Crypto Exchange
A U.K. domiciled crypto exchange with global reach.
A requirement from the client’s payment processing partner to carry out an independent maturity assessment review of the exchange’s governance framework and operational controls.
Lysis conducted an independent maturity assessment of the exchange’s AML governance framework including the operational systems and controls utilising the Arctic Intelligence AML HealthCheck solution.
Lysis reviewed the exchange’s AML/CTF framework which resulted in the assessment where a percentage of 83% fully compliant were achieved and 17% achieved partial compliance, meaning compliance requirements were met but some gaps were identified. A remedial programme was set up for the 17% and consequently the payment processing partner was happy to keep the facilities open.
A newly established digital bank required full regulatory permissions to operate as a licensed bank in the UK and to ensure compliance with EU PSD2 regulations.
Lysis enabled a major US crypto exchange to achieve UK FCA registration through full regulatory transformation, governance design, and compliance support.
A new to market crypto asset business domiciled in Ireland received a regulatory requirement from the Central Bank of Ireland to design and embed a financial crime, AML/CTF, governance framework.
