Customers should be subject to the same KYC requirements and limits as in Automatic system block Segregation of on exceeding limits duties and clear Tier I Audit trail reports of approval procedures transaction of each that are documented customer Existence of a risk Alerts mitigation Unit AML/CFT intelligent AML/CFT System compliance officer Electronic records of and reporting transactions auditable in AML/CFT system Reporting of Electronic statement sent suspicious transactions to sending and receiving transactions customer and agent. The message sent to the receiving customer shall identify the sending customer. Over-the-counter
Over-the-counter transactions Customers should be subject to the same KYC requirements and limits as in Tier I Automatic system block on exceeding limits Audit trail reports of transaction of each customer Alerts AML/CFT intelligent System Electronic records of transactions auditable in system Electronic statement sent to sending and receiving customer and agent. The message sent to the receiving customer shall identify the sending customer. Segregation of duties and clear approval procedures that are documented Existence of a risk mitigation Unit AML/CFT compliance officer and reporting AML/CFT Reporting of suspicious transactions
DRAFT_REGULATION_GOVERNING_THE_ELECTRONIC_MONEY_ISSUERS_May_2016.docx