Regulated financial service companies, estate agents and law firms have a legal and regulatory obligation to carryout on-going monitoring and screening of its clients and related controlling parties and beneficial owners against domestic and international sanction, embargo and Politically Exposed Persons (PEP) list as well as for adverse media.
The process can be time consuming, costly and relies on expensive software as well as skilled personnel.
Lysis has a secure AML Operations Centre based in the City of London in which we provide a managed service for initial screening and on-going monitoring requirements. The centre offers a totally secure data and personnel environment which allows us to provide cost-effective, expert analysts to carry out the daily monitoring of the controls relating to regulatory screening which will protect business from both a reputational, legal and regulatory perspective.
Using an industry leading software provider, Lysis is able to screen legal entities and individuals against all global watch list, sanction lists and PEP lists as well as for adverse media in bulk or individually.
Our specialist staff will review all potential hits and document whether there are any true or false hits. All false hits will be documented with a detailed explanation recording the reason for discounting and will be reported to the client on a weekly basis (or as required). Any true hit will be escalated to the client in an agreed format and timeline.
We also offer a complete end-to-end Client On-boarding and Client Lifecycle Management Managed Service.
All discounted and positive hits will go through a rigorous Quality Assurance review.
All our staff are experience in AML, KYC and other financial crime requirements.
Screening can be carried out as often as required, including daily, weekly or monthly batch screening. All entities and individuals will be screened automatically as and when an international watch list or sanction list is updated.
Benefits of using our AML Screening & On-Going Monitoring Service:
- Cost effective way to managed screening and monitoring requirements.
- Staffed by analyst with vast experience and understanding of AML and Financial Crime controls within the financial services industry as well as other regulated industries.
- The Managed Service reduces Operational risk and managerial/resource requirements. • The service is managed by AML and Financial Crime specialists with over 15 years’ experience in the field.
- Reduces the cost of expensive screening and on-going monitoring software.
- Totally secure from an IT, data and personnel perspective.