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.
Crypto & Digital Assets
A new to market crypto asset business domiciled in Ireland.
A regulatory requirement from the Central Bank of Ireland to design and embed a financial crime, AML/CTF, governance framework.
Lysis worked closely with the client to design an AML/CTF framework which would enable registration with the Central Bank of Ireland as a crypto asset business which included the drafting of a crypto related financial crime risk appetite statement, bespoke AML/CTF policies and procedures, the design of a financial crime risk committee terms of reference and the documentation of the Money Laundering reporting Officer (MLRO) roles and responsibilities for crypto asset risk management.
Lysis successfully designed a financial crime governance framework that will enable the client to register successfully with the Central Bank of Ireland as a schedule two regulated crypto asset firm.
The client is incorporated in Ireland as an Irish Collective Asset-management Vehicle (ICAV). The client is an American investment fund which specialises in lending large amounts of money to various entities ranging from listed entities to unregulated entities based in the USA.
The merger of two global investment banks required the implementation of a single client onboarding firm structure and alignment of systems and procedure to a single global policy.
Lysis designed and implemented a compliance monitoring framework for a UK-regulated EMI. The aim of the framework was to ensure ongoing compliance with the Electronic Money Regulations 2011 (EMRs), including with the Money Laundering Regulations 2017 (MLRs).
