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
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.
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:
Introduction to Electronic Money Institutions (EMIs) and Payment Institutions (PIs)
– 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
– 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
– 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 obligations to regulatory bodies
– Effective communication with regulatory authorities
– Requirements for periodic reporting and audits
– 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 sources and data collection methods
– Data processing and data quality management
– Statistical analysis and anomaly detection
– Data visualization for monitoring and reporting purposes
– 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
Who Should Attend
The programme is ideal for:
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.
This programme may be approved for up to 7 CPD units in FinTech and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
HRDA-approved seminars are exempted from VAT for eligible organisations applying for the HRDA subsidy. A 19% VAT will apply to seminars and participants who do not qualify for the HRDA subsidy.
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Day 1: December 04, 2023 | 09:00-17:15
Start time: 09:00 EET
End time: 17:15 EET
Venue: Live Online
Coordinates: 7 | Duration: 7 hrs
Directions: <a href="https://eimf.eu/event-organizer/nadine-ghosn-eid/">Nadine Ghosn Eid (view the trainer's bio here)</a>
Email: [email protected]