Our team works extensively with the rules, regulations, legislation and best practice across the payments industry and across Europe.

Not following the elementary requirements of your E-Money licence or the European Money Laundering directive will be the quickest way of exposing your business to losses, but also to penalties, suffering poor media attention, or losing your market-share. Ultimately the loss of your E-Money licence.

Requirements:

If you are an E-money licence holder, your organisation as well as all of your agents, are obliged to be fully aware of and engaged in full due diligence in your customer selection and identification processes, in your transaction/event screening, suspicion reporting, record-keeping, corporate assessment of exposures and risk, and the Base II (and III) capital adequacy requirements to measure and manage the risks and exposures. It is crucial as an FCA regulated organisation that in all your areas of operation that you have a clear payment strategy and a strong understanding and adherence of all laws that apply to you for making payments.

We can assist you with your E-money licence application:

  • Authorisation Application
  • Ongoing Compliance outsources
  • FCA Accounting & Report
  • External and Internal AML Audit Report
  • EU Passporting & Branch set up
  • We provide advice on the key issues your firm is likely to face before, during and after the application process
  • Applications are always unique to an individual client and the specifics of their business. The FCA are critical of a "one size fits all" approach
  • Your application is managed by a Senior Consultant, supported by other technical specialists as required

We can help you in:

  • Reviewing your current state of readiness and will show you the areas that need attention or action prior to submission application to FCA.
  • Evaluating how ready and prepared your third-party agents and Passport-holders are and how compliant and knowledgeable they are too; and then tell you what needs to be done by them and you as the principal licence holder?
  • We have a team of payment industry experts and will show you what has worked elsewhere in many banks and card schemes.

We advise payment organisations on market direction, strategy and we never operate as simple 'tick-box' auditors.

Are you looking for MLR & FCA compliance support?