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Why is it hard to apply effective sanction controls?
Many guidance's and recommendations have been published by global standard bodies to protect the financial system against money laundering and to combat terrorist financing. However, despite these increasing efforts increased efforts and regimes associated with the international agenda, AML deficiencies and sanction control failures are ever more prevalent in Banks and other Financial Institutions today.
Why Regulators are still finding ‘gaps’ in Banks internal AML controls
The magnitude and global nature of the UK financial industry means that both money laundering and the criminal activity that creates it, generates the need for strong anti-money laundering and KYC policies.
Lysis Partnership with The Damilola Taylor Trust
Lysis has partnered with the Damilola Taylor Trust (DTT) since 2016 to provide the Career Pathway Programme, enabling inner city youths from disadvantaged backgrounds with experience and insight into the financial services industry. Here at Lysis we are keen to improve social mobility within the workplace and feel that diversity should be encouraged; not just to improve corporate performance but enable anyone from any background the chance to pursue their career of choice.
The On-Going Pressure of Complying to Money Laundering Regulations
Financial Institutions globally are under an immense amount of regulatory pressure to prevent financial crime. It is estimated that over £90 billion a year is laundered through tier one FIs, with proceeds of crime ranging from exploitative and violent crimes to large-scale drug dealing. Institutions such as Deutsche Bank, Danske Bank and Bancorp have most recently been hit with substantial fines due to such breaches in Anti-Money Laundering regulations.
Concealment of Beneficial Ownership
The concealment of funds; is it illegal or just immoral?
Virtual Currency Regulation 2018
£5,004 is a lot of money, right? What could you buy with it? A second-hand car, a mid-line Rolex, or how about one bitcoin? Virtual currencies are the new emerging market, they are currently valued at $400bn, yet little is known about how they work and the uncertainty about how to regulate them is growing ever more prevalent.
Join us for our 2nd Information Session on our Post-Graduate Certificate in AML & Financial Crime Prevention at Cass Business School
Lysis Academy and Cass Business School will be jointly holding an Information Session about the Post-Graduate Certificate in AML and Financial Crime Prevention at Cass Business School...
Lysis participates in FCA’s AML and Financial Crime Tech Sprint
In May this year, a team of Lysis financial crime experts joined the 5th FCA Tech Sprint. This was the most ambitious project yet by the FCA RegTech team with 260 participants from 105 firms collaborating over 3 days to produce innovative solutions in the areas of anti-money laundering (AML) and financial crime.
Helping Regulated Firms Prepare for the 5th Money Laundering Directive
The new EU 5th Money Laundering Directive (“5MLD”) will come into force in January 2020 and will apply to all regulated firms subject to EU regulation.
Paul Burleton joins Lysis as Head of Strategy & Innovation
We are delighted to welcome Paul Burleton to our Associate Director team as of the beginning of June. Paul brings a wealth of experience in financial services technology and RegTech
Lysis Operations Centre Open Days in London
We will be holding Open Days throughout September in our AML Operations Centre in the heart of the City of London.
Lysis to Partner with Genpact to Help Financial Institutions Fight Financial Crime
Lysis, a global group of companies specialising in AML and KYC consulting, services and training announces that it is partnering with Genpact (NYSE: G), a professional services firm focused on delivering digital transformation, to help large financial services organisations tackle financial crime compliance by combining deep domain expertise with advanced digital process innovation.
Lysis will be participating in ACAMS; AML and Financial Crime Conference, Amsterdam, 31st May & 1st June
Three Lysis Associate Directors will be attending ACAMS in Amsterdam next week, among them, Wendy Murray, Head of Lysis Academy, who will be taking part in a panel discussion on 31st May around what next for AML.
European Union Adopts New Money Laundering Directive
Less than a year after the introduction of the 4th Money Laundering Directive (4MLD), the European Council has agreed to adopt a new 5th Money Laundering Directive (5MLD).
National Crime Agency secures “Unexplained Wealth Orders” for the first time on Politically Exposed Person with a multi-million pound property portfolio
The National Crime Agency (NCA) has been granted two “unexplained wealth orders” (UWOs) to investigate whether two properties in Britain were purchased with illicit funds by a politically exposed person (PEP) allegedly from Central Asia. The individual is the first person in the UK to be subject of a UWO, since the order came into force on 31 January 2018.
EU Commission form Sixth EU Money Laundering Directive
EU Ambassadors confirmed in December 2017 that an agreement had been reached between the European Parliament, European Council and European Commission regarding the latest amendments to the Fifth Money Laundering Directive (5MLD).
Lysis Financial announce opening of Frankfurt office
Lysis Financial is delighted to announce the formation of Lysis Solutions GmbH and the opening of its Frankfurt office.
Lysis announces White Paper on "Operational & Technological Strategies to Streamline CLM and KYC Processes and Generate Eficiencies"
Lysis has released a white paper that addresses operational and technological strategies to help firms streamline CLM and KYC processes and generate efficiencies.
Santander Fined €1m Euros Highlights the Importance of Historic AML Reviews
The Spanish Supreme Court has recently fined banking giant Santander €1 million euros due to “serious” historic AML failings relating to a single client. The fine related to due diligence failings on the now defunct Spanish property giant Rumasa. These failings resulted in €50million being laundered through the company between 2007 and 2011.
New Money Laundering Regulations to Impact Estate Agents
From the 26th of June 2017, the new UK Money Laundering Regulations 2017 (“MLR17”) come into force placing new legal and regulatory requirements on Estate Agency Businesses. The MLR17s are an amendment to the current legislation which has been enforced since 2007.
Lysis Financial launches new Managed Service for Onboarding, KYC and Client Lifecycle Management (CLM), powered by iMeta
Lysis, a leader in business change management services and a provider of innovative KYC services through Lysis Operations, and iMeta, a provider of Client Lifecycle Management software, have joined forces to create a comprehensive Client Lifecycle Managed Service designed specifically for the small to medium size institutions in the financial services sector.
Lysis launches Lysis Operations (Ireland) Limited, and opens new Dublin office
Lysis is pleased to announce the establishment of Lysis Operations (Ireland) Limited, based in George’s Quay Plaza, Dublin 2; a location chosen because of its close proximity to the International Financial Services Centre and the central Dublin business district.
Fourth EU Money Laundering Directive Timeline and Key Changes
The European Union’s Fourth Anti-Money Laundering Directive (4MLD) came into force on 26 June 2015. It requires European member states to update their respective money laundering laws and transpose the new requirements into local law by 26 June 2017.
CLM & KYC Operating Models
Register for Lysis' White Paper on Operational & Technological Strategies to Streamline CLM and KYC Processes and Generate Efficiencies
The UK Home Office has pledged to crack down on money laundering, particularly in London
The announcement was made in a recent statement by home secretary Amber Rudd that financial crime "can ruin people's lives". She added that "there is a myth that there are no real victims of economic crime".
Looking forward to it
Looks fab. What did we miss
conference today at
in Birmingham today. If you are here come and say hello https://t.co/JgxoO0LOuu
Danske money laundering scandal widens with DOJ inquiry
is here to stay and growing...
Sounds like you need a pencil case Nick
Why Regulators are still finding ‘gaps’ in Banks internal AML controls
publishes it Thematic Review on
Risks in the E-Money Sector
Danske Bank whistleblower to consider EU parliament invitation
Lysis is pleased to announce that we are sponsoring the
.com Conference Two North in Birmingham. Come along to see how we can help support your
Lysis Solutions (Germany)
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