What is an AEMI (Authorised Electronic Money Institution)?

An Authorised Electronic Money Institution (AEMI) is a regulated entity authorised to issue electronic money, subject to regulatory supervision including rules on safeguarding of funds, AML/CTF, reporting, governance, risk management and customer protection.

What is required to become an authorised AEMI?

Requirements usually include licensing application, demonstrating adequate governance, capital, operational readiness, compliance with AML/CTF and KYC standards, internal controls, risk frameworks and ongoing reporting obligations.

What AML/CTF obligations do AEMIs have?

AEMIs must implement customer due diligence (KYC/KYB), transaction monitoring, suspicious activity reporting, sanctions screening, record keeping, risk assessments, and internal policies and procedures to prevent financial crime.

How do governance and operational controls factor into AEMI compliance?

Governance ensures oversight, accountability, roles & responsibilities, board or senior management oversight; operational controls ensure processes work properly, controls are tested and monitored, issues are escalated and remediated promptly.

What are typical ongoing compliance obligations for an AEMI?

These include monitoring regulatory changes, updating policies and procedures, filing regular regulatory reports, performing compliance audits or reviews, training staff, monitoring for suspicious transactions, and maintaining robust risk management.

How are regulatory reports filed by AEMIs?

Regulatory reporting requirements vary by jurisdiction but AEMIs often need to submit periodic returns, transaction volume/value reports, AML/CTF metrics, audit findings, and any incident reports, using regulator-specified templates or portals.

What happens if an AEMI fails to comply with regulation?

Non-compliance can result in regulatory sanctions, fines, loss of licence, reputational damage, stricter oversight, or operational restrictions depending on severity and nature of breach.

AEMI Regulatory & Authorisation Services

Overview

Authorised Electronic Money Institutions (AEMIs) are fully licensed entities permitted to issue electronic money and provide a broad spectrum of payment services, including domestic and cross-border payments, remittances, card issuance, and payment processing. Unlike Small EMIs (SEMIs), AEMIs operate under full prudential, operational, and conduct requirements, adhering to the Electronic Money Regulations (EMRs), Payment Services Regulations (PSRs), and FCA expectations for governance, risk management, and consumer protection.

Business Model Development
FCA Authorisation – Application Drafting & Submission
Risk Management Framework & Governance Setup
Ongoing Compliance Support
Regulatory Reporting & Filing
Specialized Training
Audit & Assurance Services