A significant UK and US corporate bank with questions around the quality of the firm’s AML capabilities and customer files
Corporate, Wholesale and Investment Banking
KYC Remediation
A significant UK and US corporate bank
The bank had grown rapidly and an audit in late 2020 raised questions about the quality of the firm’s AML capabilities and customer files.
Lysis worked with the bank’s AML compliance and AML operations team to provide the following services:
Our client had a requirement to review and update its AML Framework to take account of the Fifth Money Laundering Directive and also some changes in its business model.
Two global banks merged and Lysis was asked to manage the integration of the KYC Operations functions globally for the wholesale & Investment Banking division covering 200,000 customers and 65 countries.
Our client had identified a tranche of several thousand corporate and retail customers for which they wished to remediate the Know Your Customer (KYC) data held and to re-assess whether the interactions with the retail customers were compatible with Responsible Gambling requirements.
