€140 - €280
Live Online
7 CPD Units | 7 Hours
HRDA Subsidised
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
This comprehensive course is designed to provide participants with a practical understanding of the regulatory and technical aspects involved in ensuring compliance and effectively monitoring transactions in the context of EMIs and PIs. The course will cover the key regulations, including the Payment Service Directives 2 and 3 (PSD2 and PSD3), and will include real-world case studies to enhance learning.
The programme aims to provide participants with a holistic understanding of transaction monitoring in EMIs and PIs, combining both the regulatory requirements and the technical implementation aspects.
Training Objectives
The course will provide participants with a comprehensive understanding of the regulatory and technical aspects of transaction monitoring in EMIs and PIs and will equip them with practical skills and knowledge to ensure compliance, effectively monitor transactions, and mitigate financial risks within their organizations.
More specifically, by the end of the programme, participants will:
Have a clear understanding of EMIs and PIs landscape, their roles, and the importance of transaction monitoring within them.
Have addressed the Payment Service Directives (PSD2 and PSD3) and explored the anticipated changes and updates in PSD3, including their impact on EMIs and PIs.
Understand the regulatory framework and the requirements set forth by the relevant authorities; topics include customer due diligence (CDD), anti-money laundering (AML) obligations, and know your customer (KYC) procedures.
Explore the purpose of transaction monitoring, its key principles, and the best practices for implementing effective monitoring systems.
Apprehend the Reporting and Obligations Requirements, Suspicious Activity Reporting (SAR), and the obligations of EMIs and PIs under the regulatory framework.
Identify the technical infrastructure needed for transaction monitoring, including software solutions, data analytics, and artificial intelligence (AI) applications.
Dive into different techniques and methodologies used in transaction monitoring, such as rule-based monitoring, anomaly detection, behavior profiling, and network analysis.
Understand data sources, data quality, data preprocessing, and data analysis techniques to extract meaningful insights for effective transaction monitoring.
Implement Transaction Monitoring Systems, including system integration, customization, and testing.
Engage in practical case studies and learn the best practices to avoid failures and penalties.
Training Outline
Introduction to Electronic Money Institutions (EMIs) and Payment Institutions (PIs)
Definition and differentiation between EMIs and PIs
Overview of the role and functions of EMIs and PIs in the financial ecosystem
Importance of transaction monitoring for EMIs/PIs
Regulatory Aspect
Introduction to Regulatory Frameworks
- Overview of Payment Service Directives (PSDs) 2 and 3
- Electronic Money Regulation and the Payment Services Regulation
- Key regulatory requirements for EMIs and PIs
- Role of regulatory bodies and their jurisdiction
AML/CFT Compliance for EMIs and PIs
- Overview of Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) regulations
- AML/CFT obligations for EMIs and PIs
- Customer due diligence (CDD) and Know Your Customer (KYC) requirements
- Risk assessment and mitigation strategies
- Reporting suspicious activities and transaction monitoring
Transaction Monitoring Guidelines
- Overview of transaction monitoring
- Designing effective transaction monitoring systems
- Identification of red flags and suspicious patterns
- Real-time monitoring
- Record-keeping and documentation requirements
Reporting and Regulatory Communication
- Reporting obligations to regulatory bodies
- Effective communication with regulatory authorities
- Requirements for periodic reporting and audits
Technical Aspect
Transaction Monitoring Tools and Technologies
- Overview of transaction monitoring software
- Data analytics and machine learning techniques
- Automation and artificial intelligence in transaction monitoring
- Integration with existing systems and data sources
Data Collection and Analysis
- Data sources and data collection methods
- Data processing and data quality management
- Statistical analysis and anomaly detection
- Data visualization for monitoring and reporting purposes
Case Studies
- Real-life examples of transaction monitoring in EMIs/PIs
- Analysis of suspicious transactions and patterns
- Investigation techniques and decision-making processes
- Lessons learned and best practices to handle failures and penalties
Global and European Statistics
Global overview of the electronic money and payment services industry
Key statistics on EMIs and PIs in Europe
Trends and emerging challenges in transaction monitoring
Comparative analysis of regulatory approaches across jurisdictions
Who Should Attend
The programme is ideal for:
Compliance officers within EMIs/PIs who are responsible for ensuring that the institutions adhere to the regulatory requirements related to transaction monitoring.
Risk Managers play a crucial role in identifying and mitigating risks associated with financial transactions.
AML/CFT Officers who are responsible for implementing and maintaining robust AML/CFT measures within EMIs/PIs
Operations Managers who oversee the day-to-day activities of EMIs/PIs, including transaction processing and monitoring
Training Style
The course will explore practical case studies, simulating real-world scenarios and challenges faced by EMIs and PIs. These case studies will allow participants to apply their knowledge and skills gained during the course to practical situations, enhancing their understanding and problem-solving abilities.
The course will also present statistical data on transaction monitoring, including global trends and specific statistics related to EMIs and PIs in Europe. These statistics will provide participants with a broader context and a better understanding of the challenges and opportunities associated with transaction monitoring in the industry.
CPD Recognition
This programme may be approved for up to 7 CPD units in Banking and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
This training course may be approved as an external activity under the new ACAMS recertification category ''non-ACAMS credits'' for up to 7 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Nadine Ghosn
Nadine Ghosn is the Founder and CEO of BeyondComply, a compliance consultancy and training firm established to help financial services companies understand and overcome the challenges arising from compliance, regulation, and market developments. Nadine is a Member of the Advisory Council of AGRC (Association of Governance, Risk, and Compliance). She is also a Certified Anti-Money Laundering Specialist (CAMS) based in Beirut who’s been a Speaker in various Global Compliance and Financial Crime Prevention Conferences, and has more than 29 years of Banking Experience with a focus on Compliance, Treasury, Capital Markets and Private Banking, in addition to 19 years of concentration in the Cards and Payments Industry. Nadine serves as a Professional Consultant in Anti-Money Laundering, Governance Risk & Compliance, Regulatory Compliance, Data Protection, Virtual Assets Regulation, and Cards Industry Rules and Regulations. She delivers sessions with the Executive Education Programs at the Suliman S. Olayan School of Business (OSB) of the American University of Beirut (AUB). She is also certified as a Trainer by the European Institute of Management and Finance (EIMF), an EU GDPR Foundation and Practitioner by The Knowledge Academy UK, and also certified in Financial Derivatives, Securities, and FSA Regulations by the UK’s Chartered Institute for Securities & Investments (CISI). Nadine was also holding, from May 2019 to December 2024, the position of Director of Compliance & Regulatory Affairs at areeba, a Leading Regional Financial Technology company specialized in the payment cards and electronic services. Prior to areeba, Nadine worked for 14 years with CSCBank sal, a regional leader in the card and electronic payment processing industry, of which the last three years have been also as Head of Compliance. Nadine holds a Master’s Degree in Money and Banking from The American University of Beirut, and is fluent in English, French and Arabic. She has an extended financial experience in the Middle Eastern, African, American, and European markets, having worked for multiple banks that do business in these markets.
The invoice is issued on the day the course starts.
Payments can be made by bank transfer, cheque, or credit card.
Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.
Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.
Click the Get Your Certificate button in the email to download your certificate.
You can also access it from your Cademy account:
To access the course materials, such as presentations and recordings:
The Human Resource Development Authority (HRDA) of Cyprus is a semi-government governmental organisation that supports the development of workforce skills through training and development initiatives. Eligible training programmes approved by the HRDA may qualify for a subsidy, reducing the participation cost for eligible organisations and individuals, subject to the HRDA's terms and conditions.
The HRDA subsidy is available to:
To receive the subsidy, eligible persons must attend at least 75% of the course.
ERMIS is the online platform of the Human Resource Development Authority (HRDA) of Cyprus, used for managing training programme registrations, participant details, subsidy applications, and attendance records. All participants attending HRDA-approved courses must have an ERMIS profile and use the platform’s attendance register to check in and check out during each course session. https://ermis.anad.org.cy/
To attend an HRDA-approved course, you must:
See the FAQs below for detailed instructions.
Yes. ALL participants attending HRDA-approved courses must have an ERMIS profile, whether applying for the subsidy or not.
You can create or access your ERMIS profile here: https://ermis.anad.org.cy/
After booking your course through the EIMF website, you must also register through ERMIS, provided that the required profile(s) have already been created.
You must register through your personal ERMIS profile.
For example: If your organisation includes multiple companies, make sure each participant is registered under the correct company profile.
Around one week before the course starts (or immediately after booking if you register less than one week before the course), we will email you the HRDA course details and instructions on how to complete your ERMIS registration.
When registering for the course through ERMIS, you must upload both of the following documents obtained from the Public Employment Service:
You must update your ERMIS profile:
When submitting your request, you must upload one of the following:
Yes. All participants must log onto the ERMIS system and check onto the attendance register when they join a course session and check out when they leave a course session, as HRDA records attendance.
To receive the subsidy, eligible persons must attend at least 75% of the course. Check-ins and check-outs reflect actual attendance.
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