Our client was setting up a new online gaming licensing authority and sought a partner to on-board licensees and to manage the on-going governance and compliance operation.
Gaming & Gambling
An Online Gaming Licensing Authority
Our client was setting up a new online gaming licensing authority and sought a partner to on-board licensees and to manage the on-going governance and compliance operation.
Lysis defined the compliance framework (view case study) and set up the operation including on-boarding and compliance specialists across first, second and third lines of defence. We also worked with technology partners to establish the operating framework and system support for the licensing body. We are now reviewing, and if successful on-boarding, an extensive book of elevated risk licensees including running a full AML enhanced due diligence process as well as examining their general gaming (e.g. responsible gambling) and technical (e.g. game certification) compliance. We are also running the on-going operation including regulatory reporting and continuous monitoring of the licensees in terms of their regulatory and technical compliance.
Our client was in the middle of an extensive regulatory remediation for the Central Bank of Ireland and the remediation.
A European Retail Bank with over 4000 employees globally had a tight regulatory deadline to review five years of transactions to identify suspicious transaction and cases of money laundering and/or terrorist funding.
A major Egyptian bank with UK operations had a requirement to identify possible AML and CTF gaps and suggested improvements.
