Regulatory Alerts2023-07-12
Added · Updated
Payment services agent – Information to be provided for notification
Payment institutions must submit specific information to DNB for the outward notification of a payment services agent, including the agent's contact details and the identity of persons determining policy. This submission requires evidence of expertise and integrity for individuals owning 30 percent or more of the institution or exceeding 30 percent influence, such as valid identity documents, curricula vitae, and certificates of good conduct issued within the last six months. Additionally, institutions must provide descriptions of internal control mechanisms for anti-money laundering and counter-terrorist financing compliance, as well as the agent's organizational structure including any branches.