with clear terms 10,000,000 Electronic records of AML/CFT for provision of daily transactions auditable in compliance officer agent services. balance system and reporting Copies retained Electronic statement sent AML/CFT *NOTE: Agents are not in registry) to customer and agent or Reporting of allowed to send person to merchant suspicious person payment transfers. transactions They are only for cash in and cash-out There are no limits on Full KYC/CDD Automatic system Segregation of Tier V (Corporates transactions Super-Agent Identification block on delayed float duties and clear registered as The e-money account Number liquidation approval procedures balances shall be Audit trail reports of that are documented with full withdrawn on weekly transaction of each agent Existence of a KYC/CDD basis. Alerts risk mitigation Unit Documentation AML/CFT AML/CFT and agreements intelligent System compliance officer with clear terms Electronic records of and reporting for provision of transactions auditable in AML/CFT agent services. system Reporting of Agents Copies retained Electronic statement suspicious in registry) sent to agent or merchant transactions
with clear terms for provision of agent services. Copies retained in registry) Electronic records of transactions auditable in system Electronic statement sent to customer and agent or merchant AML/CFT compliance officer and reporting AML/CFT Reporting of suspicious transactions daily balance 10,000,000 *NOTE: Agents are not allowed to send person to person payment transfers. They are only for cash in and cash-out Agents Tier V (Corporates registered as with full KYC/CDD Documentation and agreements with clear terms for provision of agent services. Copies retained in registry) There are no limits on transactions The e-money account balances shall be withdrawn on weekly basis. Full KYC/CDD Super-Agent Identification Number Automatic system block on delayed float liquidation Audit trail reports of transaction of each agent Alerts AML/CFT intelligent System Electronic records of transactions auditable in system Electronic statement sent to agent or merchant 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