Transaction Monitoring and KYC resourcing

A crypto asset firm domiciled in the US asked Lysis to support the firm's financial crime framework and policy creation for transaction monitoring across the UK, US, and for the rest of the firm's global customer base to improved risk management, quality and increased operational efficiency.

Division
Operations & Resourcing
Industry

Crypto & Digital Assets

Service-line

KYC Remediation

The Client
A crypto asset firm domiciled in the US.
The Challenge
Lysis was asked to support the firm's financial crime framework and policy creation for transaction monitoring across the UK, US, and for the rest of the firm's global customer base to improved risk management, quality and increased operational efficiency. There was also a requirement to assemble a large KYC and Transaction Monitoring team very quickly.
The Solution
Therefore, within a four-week period, Lysis was able to provide the client with a team of 60 analysts who had extensive experience in all aspects of financial crime compliance and who could add value to the project for the start. Lysis also conducted a root cause analysis of the firm's processes and created bespoke process flow for transactions monitoring which complied with the Financial Conduct Authority (FCA) and anti-money laundering (AML) guidelines. Lysis also reviewed and investigated transactional activities to identify any suspicious activities of money laundering or terrorist financing and even managed the Know Your Customer (KYC) reviews. Furthermore, Lysis created and maintained accurate and concise records of all investigations undertaken including details on the rationale for any decisions made. Any unusual and suspicious client activities were escalated via the escalation process to the Suspicious Activity Reporting Unit.
Results
Lysis assisted the client successfully to implement effective workflows linked to transaction monitoring and provided a large team of experienced analysts in a very short period of time. Last but certainly not least, Lysis also provided constructive advice and support to the business units on the identification of areas of risk based on the latest transaction monitoring trends.
Ready to chat about how we can help you?
Get in touch today!
Get in Touch
Other Case Studies
Browse Case Studies
Consulting & Advisory
Governance, Risk and Compliance (GRC) Section 166 Remediation Programme
Corporate, Wholesale and Investment Banking

A major global FTSE-100 financial services firm had one month to shape, scope and plan a 60-project programme of work in response to a Section 166 Skilled Persons Report requested by the Financial Conduct Authority (FCA). The firm also had to deliver all 60 projects over a twelve-month period with sub-deliveries due each month.

Training & Certification
Building out Off-shore CLM/AML Capabilities for a large US-based tech commercial bank
Corporate, Wholesale and Investment Banking

One of the largest US-based Tech commercial banks needed to build out their offshore capabilities in support of their London operation. This included candidate selection, AML/KYC training, coaching on early cases and then QA of their work. This produced a team of fully trained KYC analysts and a newly established offshore capability.

Consulting & Advisory
Global Banking Secrecy and Data Security
Corporate, Wholesale and Investment Banking

A major global bank, following a merger, had two global trading brands operating across 60+ countries globally.