Agent Regulation

Allowing EMIs and other DFS providers to offer services through agents can incentivize them to target low-income and remote customers. Regulators are seeking to strike a balance that will enable providers to offer low-cost services through agents without negatively affecting service delivery or consumer protection.

Agent Regulation

Agent Supervision

As e-money grows, so does the need to assess the risk presented by use of agents to deliver e-money services.

Examples of agent-related risks include the following:

FraudIT system failureML/TF by agent
Unauthorized feesService outageML/TF by customer
Lack of receiptsContingency planning 
Lack of disclosure/transparencyInternal controls 
Inadequate dispute resolution mechanisms  
Insufficient liquidity  

AML/CFT Training for Agents

The use of agents may create certain AML/CFT risks, such as failure to implement risk mitigants or facilitation of fraudulent activities.