In the loop with Lysis

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.

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Insights
May 2023
Reviewing firms’ readiness for the new Consumer Duty requirements

The Financial Conduct Authority (“FCA”) released their findings based on reviews of approaches by firms to fair value assessments under the new Consumer Duty which will be enforced on 31 July 2023

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Insights
May 2023
New information-sharing bill passed by Singapore AML regime

The Monetary Authority of Singapore (MAS) indicated that the Financial Services and Markets(Amended) Bill (FSM(A)B had been passed by parliament.

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Insights
May 2023
The G7 Summit unveils new sanctions against Russia

Last week, the G7 counties announced new sanctions against Russia at the G7-Summit which took place in Japan.

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Insights
May 2023
The gaming and gambling industry must up its game

Historically, the gaming andgambling industry has been associated with money laundering and other criminalactivities

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Insights
May 2023
Expert insight into the global ESG agenda

The Compliance Institute of Ireland recently approached Lysis Group to share their expertise regarding ESG in the operational compliance space with specific reference to the“Implementation of an Effective ESG Agenda”.

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Insights
May 2023
An Award-Winning Managed Service Offering

Our award-winning managed service offering is fully configured to suit firms'individual risk appetites and operational controls and is perfectly adaptable to meet firms’ policy requirements in a dovetailed manner.

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Insights
May 2023
Customer Risk Rating (CRR) Methodology Reviews and Redesign

When firms identify the level of risk associated with their clients, they must thoroughly assess the risks and mitigate the risks.

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Insights
Apr 2023
The FCA issued a cash-based money laundering alert

Measures designed to reduce the risk of money laundering via the Post Office have been published by the Financial Conduct Authority (FCA)

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Insights
Apr 2023
The world’s first comprehensive set of regulations to regulate crypto asset markets

Last week, for the first time ever,the European parliament backed the European Union’s set of rules to regulate crypto asset markets such as Bitcoin.

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Insights
Apr 2023
Empowering our clients for a Section 166 Review

Most firms will be aware of the regulators’ “box” of supervisory tools

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Insights
Apr 2023
Make sure your firm has a clean bill of health

Global regulators require firms to have controls in place to prevent and detect any activities linked to money laundering and the financing of terrorism.

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Insights
Apr 2023
The implementation of the Financial Action Task Force (FATF) Travel Rule (TR)

The Financial Action Task Force (FATF), global anti-money laundering watchdog, recently published its updated recommendations, one of which now requires...

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Insights
Mar 2023
Turmoil in the global financial system

According to reputable sources, Signature bank, a New York-based full-service commercial bank was recently seized by regulators and was apparently being investigated by US prosecutors prior to the closure of the bank.

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Insights
Mar 2023
Highly skilled resources: a valuable investment

The Lysis Group has been operating in the Financial Crime Compliance (FCC) and Client Lifecycle Management (CLM) space for more than 20 years.

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Insights
Mar 2023
Sustainable financial crime compliance

All firms must review their anti-money laundering (AML) and broader financial crime (FC) programmes on a regular basis to ensure that it is fit for purpose.

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Insights
Mar 2023
ESG Initiatives Effective in Ireland

ESG regulations and the implementation thereof in Ireland is primarily governed by the European Union (“EU”) framework.

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Insights
Mar 2023
Optimisation of Financial Crime Processes

There are many factors that contribute to the rising cost of Financial Crime Compliance (FCC) including the limitations placed on the privacy of data, the growing complexity of compliance itself and the large chunk of labour costs linked to this.

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Insights
Feb 2023
Shades of Grey: Things are not simply black or white

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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Insights
Feb 2023
Western Human Rights Violations

Environmental, Social & Governance (“ESG”) has become an important part of business decisions, corporate finance, and business strategies over the last few years.

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Insights
Feb 2023
Many offshore firms missed the deadline to declare ownership of UK properties

The ROE requires any anonymous foreign buyers of UK property to disclose the beneficial ownership of the property to Companies House.

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Insights
Feb 2023
Lysis Group takes part in a virtual debate hosted by the EU Parliamentary Kangaroo Group

The CEO of Lysis Group, Jon Sweet was invited to take part in the virtual debate which took place yesterday...

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Insights
Feb 2023
Russia: the cracks are starting to show

Since the invasion of Ukraine by Russia on 24 February 2022, more than 30 countries have imposed sanctions on Russia. These sanctions impacted Russia’s financial system, halted energy imports...

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Insights
Feb 2023
The NCA recorded a record number of SARs during 2022

The UK’s National Crime Agency (NCA) recently published their Suspicious Activity Report (SAR) Annual Report for 2022 which included statistics for the years 2020 to 2021 and 2021 to 2022.

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Insights
Jan 2023
Crypto asset registration applications: getting it right the first time

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.

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Insights
Jan 2023
An award-winning Managed Service offering

Our managed service offering is fully configured to suit firms' individual risk appetites and operational controls and is perfectly adaptable to meet firms’policy requirements in a dovetailed manner.

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Insights
Jan 2023
Is your AML Programme fit for purpose?

With a new year well on its way it is important for every Financial Institution (FI) to conduct an anti-money laundering (AML) Health Check and Maturity Assessment to review if their AML policies, procedures...

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Insights
Nov 2022
Regulations are the backbone of strong financial systems

The recent collapse of crypto exchange FTX has sparked investigations ...

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Insights
Nov 2022
FATF Grey List- The Tussle with Gibraltar

The Financial Action Task Force(FATF) is an intergovernmental body founded in 1989 on the initiative...

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Insights
Nov 2022
Ensure that your firm has a clean bill of health

“Health checks and maturity assessments are the first steps in assessing a firm’s financial crime (FC) framework because it depicts the current state ...

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Insights
Nov 2022
Providing effective remediation solutions

Lysis was approached to assist a large privately owned bank in the Caribbean region, which provides services to numerous clients from the ...

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Insights
Nov 2022
Virtual currency compliance is a reality

In what is referred to as a “record-high” penalty, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and ...

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Insights
Oct 2022
Projects on the GO

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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Insights
Oct 2022
We have the expertise to work with firms like yours

The momentum from the first quarter continued into the second quarter of 2022 for Lysis, across our financial services, online and ...

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Insights
Oct 2022
From gambling to laundering

The Australian casino business sector has been under intense scrutiny during the last three years following serious allegations of money ...

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Insights
Oct 2022
We can help you navigate through the crypto asset registration process

According to recent media reports, lawmakers have criticised the Financial Conduct Authority (FCA) because of their slow response to ...

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Insights
Oct 2022
Removing the complexity from the crypto asset registration process

In recent years, the cryptocurrency landscape expanded rapidly and the regulations to govern this environment have also evolved ex...

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Company Updates
Oct 2022
We have the expertise and experience to work with firms like yours

This year has been a busy year so far for Lysis Group, across our financial services and crypto clients. In the first quarter of ...

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Insights
Sep 2022
ESG: All about responsibility and accountability

ESG refers to three main factors namely environmental, social and governance which are considered when measuring sustainability an...

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Insights
Sep 2022
Shades of Grey: KYC process is not simply black and white

There has been a lot of noise in recent months about South Africa facing the possibility of being “grey listed” due to a poor score in the Financial Action Task Force’s...

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Insights
Sep 2022
German authorities raid Russian oligarch’s properties

According to The Guardian newspaper, a dedicated unit of more than 250 German police officers raided several properties in Bavaria...

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Insights
Sep 2022
The link between human trafficking and money laundering

“Human trafficking is one of the most profitable crimes in the world and a significant pipeline for money laundering”, according t...

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Insights
Sep 2022
Warning Shots Fired

Last week Ladbrokes owner, Entain was ordered to pay £17m after they failed to implement sufficient checks in order to support str...

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Insights
Aug 2022
The optimum balance between cost effectiveness, efficiency, and quality

Firms are constantly looking for ways to increase efficiencies and to reduce costs which is why more firms are considering the ben...

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Insights
Aug 2022
Sanctions management is key

The sanctions against Russia have introduced one of the largest changes to sanction lists in recent years and have far-reaching im...

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Insights
Aug 2022
Tick all the boxes of financial crime compliance

There are many factors that contribute to the rising cost of financial crime (FC) compliance including the growing complexity of c...

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Insights
Aug 2022
The regulator issued a stern warning to South African banks

Last week, the Prudential Authority of the South African Reserve Bank published their 2021 report which indicated that South Afric...

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Insights
Jul 2022
Optimising client date through remediation

The global compliance landscape is becoming increasingly complex which means that effective remediation is rarely simplistic. Acco...

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Insights
Jul 2022
A more targeted approach in Know Your Customer practises

Chris Oliver from Lysis Group stated that the global prevention of money laundering remains a challenge for both regulators and fi...

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Insights
Jul 2022
Cutting - Edge

Founded in 2014, Edge is a start-up technology firm based in San Diego and recently announced their collaboration with Mastercard ...

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Insights
Jul 2022
Our cost effective on-shore/near-shore operating model

Lysis has well-established on-shore and near-shore capabilities in North America, Europe, and Asia-Pacific countries (APAC) which ...

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Insights
Jul 2022
Our fully configured managed service offering

In any regulated industry, firms must consider how they can improve the quality and performance of their customer operations. Ques...

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Insights
Jun 2022
Targeted legislation can curb money laundering activities

Australia’s real estate market has been a contentious political issue since the 1990’s with the centre of the problem being the ev...

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Insights
Jun 2022
Closing The Loop

Earlier this month, the BBC reported that MPs from Northern Ireland, (NI) were lobbying to close a loophole, alleged to facilitate...

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Insights
Jun 2022
The anticipated Tranche 2 legislation for Australia

The anti-money laundering (AML) and Counter-Terrorism Financing (CTF) Tranche 2 legislation consultation phase is expected to be c...

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Insights
Jun 2022
A risk-based approach can reduce the cost of compliance

In recent years, there has been a substantial increase in the cost of compliance across the globe. This is supported by credible s...

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Insights
Jun 2022
Cryptoassets: the ever-prevalent need for regulatory oversight

Last year the Chinese police made their first arrest for Central Bank Digital Currency (CBDC) money laundering. Chinese officials ...

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Insights
Jun 2022
Sanctions pack a powerful punch

Friday the 3rd of June marked the 100th day of the war in Ukraine after Russia invaded the country on the 24th of February. Althou...

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Insights
May 2022
Effective output can be managed when it can be measured

As the pressure increases for firms to adhere to anti-money laundering regulations to remain compliant, the standardisation of cap...

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Insights
May 2022
The FCA highlights possible crime control shortfalls at challenger banks

The Financial Conduct Authority (FCA) sets out to conduct regular testing of new business models when they operate in the UK as pa...

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Insights
May 2022
The crypto capital of the world is still to be decided

Cryptoassets and their capabilities are becoming very popular topics of discussion in boardrooms. Many of these discussions also i...

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Insights
May 2022
Interesting findings on name screening practises

The Monetary Authority of Singapore (MAS) recently published a report which highlights and summarises their findings on name scree...

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Insights
May 2022
Technology is changing the concept of money

When we take a long-term approach, it becomes clear that technologies, in all it’s different variations, are changing the concept ...

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Insights
May 2022
Money laundering has many layers

Money laundering, a practise that can be traced back to ancient China almost 2000 years ago, involves attempts to obfuscate the or...

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Insights
Apr 2022
Non-fungible tokens: the next big thing or not

Non-fungible tokens or NFT’s are the new buzzwords in the cryptoasset world and various experts speculate that these tokens might ...

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Insights
Apr 2022
The complexities of Customer Due Diligence (CDD)

Just as it is in the best interest of an employer to thoroughly vet a potential employee, financial firms have the same obligation...

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Insights
Apr 2022
Meet the cryptoasset registration experts

In recent years, the cryptoasset landscape expanded rapidly but the regulations to govern this environment has also evolved expone...

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Insights
Apr 2022
The value of a sustainable and robust Financial Crime (FC) Framework

In recent years, organisations across the globe have experienced enormous pressure and challenges regarding compliance with anti-m...

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Insights
Apr 2022
There is safety in numbers: cryptoassets in a regulated market

According to a recent article in the mainstream media, the UK government indicated that they want to become a ‘global hub’ for the...

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Insights
Apr 2022
The Importance of Knowing Your Customer

As part of Lysis Group, Lysis Operations is a dedicated banking operations business that provides Know Your Client (KYC) file proc...

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Insights
Apr 2022
Financial sanctions: the pressure is on - part 5

Successful registration of cryptoasset firms in a regulated market Due to the recent financial sanctions, Russian oligarchs are ex...

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Insights
Apr 2022
Sustainable Financial Crime Compliance

There are many factors that contribute to the rising cost of financial crime (FC) compliance including the limitations placed on t...

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Insights
Mar 2022
Financial sanctions: the pressure is on - part 4

Customer due diligence is a key component of the puzzle The use of proxies to execute deals is widespread amongst Russian oligarch...

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Insights
Mar 2022
Financial sanctions: the pressure is on - part 3

Having a holistic client view has never been more important The recent financial sanctions against Russia resulted in the net bein...

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News
Mar 2022
Cryptoassets play a key role in the global financial system

Lysis Group hosted a live webinar on 29 March 2022 that specifically focussed on cryptoassets in the current sanctions’ environmen...

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Insights
Mar 2022
We provide sustainable, yet affordable CLM/AML expertise

You might have seen the recent press release regarding Lysis Group opening a near-shore Client Lifecycle Management (CLM)/Anti-mon...

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Insights
Mar 2022
Financial sanctions: The pressure is on - Part 2

Sanctions screening are becoming more complex The sanctions against Russia have introduced one of the largest changes to sanction ...

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Insights
Mar 2022
Screening and monitoring have never been this effective

Regulated financial service companies, estate agents and law firms have a legal and regulatory obligation to continuously screen a...

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Insights
Mar 2022
Financial sanctions: The pressure is on - Part 1

Gage your firm’s risk appetite and risk assessment The recent financial sanctions against Russia have far-reaching implications fo...

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News
Mar 2022
Lysis offers a unique on-shore/near-shore AML operations delivery model in South Africa

Founded in 2001 Lysis Group provides Financial Crime Compliance (FCC) and Client Lifecycle Management (CLM) services to financial ...

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Insights
Mar 2022
Anti-war measures are seldom military grade

During the last two weeks, the United States (US), the United Kingdom (UK), Canada and the European Union (EU) have hit Russia wit...

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Insights
Feb 2022
Successful Transaction Monitoring: Overcoming Challenges

Transaction monitoring is a key part in the defence against money laundering and financial crime. It is the process of identifying...

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News
Feb 2022
Lysis opens in Australia providing AML & CLM services to regulated markets

After delivering many successful projects supporting client businesses in Australia, Lysis is proud to announce the formal establi...

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News
Feb 2022
Anne Maria Rothenstein joins Lysis Group board

Lysis Group is proud to announce the appointment of Anne Maria Rothenstein as a board member of Lysis Group, effective January 19,...

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Insights
Feb 2022
Optimising Customer Risk Rating Methodologies (Part 3)

Once again, hello readers! Welcome back for Part 3 of ‘Optimising Customer Risk-Rating Methodologies’ (CRRM). Today, we shall disc...

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Insights
Feb 2022
Transform your Client Lifecycle Management Process

Focused on the entire chain of client transactions, and designed to produce easily-digestible results, Client Lifecycle Management...

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Insights
Feb 2022
Crypto Challenge. Operating in a Regulated Market

Over the past two years there has been a rise in new cryptoasset services and service providers. With the increasing confidence th...

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Insights
Feb 2022
The Importance of Screening Alert Support & On-Going Monitoring Managed Service

Regulated financial service companies, estate agents and law firms have a legal and regulatory obligation to carry out ongoing mon...

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Insights
Feb 2022
Optimising Customer Risk Rating Methodologies (Part 2)

Welcome back, avid readers! We hope you had a wonderful weekend, and welcome to Part 2 of ‘Optimising Customer Risk-Rating Methodo...

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Insights
Feb 2022
Ouch… Not Again

Is it not amazing that a person convicted of a white-collar crime, Fraud, Market Manipulation, can make one error that sends them ...

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Insights
Feb 2022
The Importance of an AML Maturity Assessment to Ensure an Effective AML Risk Framework

To ensure that a Financial Institution (FI) is always fully compliant with the relevant legislation relating to Financial Crime an...

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Insights
Dec 2021
Are you prepared for ESG?

Just as financial services firms get used to the likes of AML Regulations, Market Abuse, Anti-Bribery & Corruption, and Brexit…..t...

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Insights
Nov 2021
The extraordinary criminal proceedings against NatWest

Financial institutions receiving hefty fines by their regulators for poor anti-money laundering (AML) controls is nothing new, but...

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Insights
Oct 2021
Regulatory Fines: Is this the ‘New Normal’

We live in a time where bribery and corruption scandals seem (sadly) more prevalent than ever. A surprising story surfaced this we...

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Insights
Oct 2021
What the Pandora Papers reveal and what can be done about it

Photo credit: ICIJ After the Panama and Paradise Papers, we now have the Pandora Papers and it is safe to conclude that – despite ...

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News
Oct 2021
Gabriel Cozma joins Lysis Group as Head of Lysis Financial and FinTech

Lysis Group is proud to announce the appointment of Gabriel Cozma as the Head of Lysis Financial and FinTech, and a member of the ...

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Insights
Jul 2021
Wine, Cheese and Cryptos

A glimpse at AML & Cryptoassets in France To everyone’s knowledge, the French nation is passionate about good cheese, excellent wi...

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Insights
Jun 2021
Crypto: Falling Short of Regulatory Requirements

In today’s market, Cryptocurrency firms are ever more prevalent. In the UK, there are over 200 Cryptocurrency firms alone with ove...

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Insights
May 2021
AML Compliance on Tap

As many of us in the industry are aware, the Financial system is governed by various bodies and regulators. In the United Kingdom,...

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