Anti Money Laundering Training For PSD Agents

Anti-Money Laundering (AML) Training for PSD Agents – 400 Words

Agents operating under a Payment Services Directive (PSD) firm play a vital role in delivering financial services such as money remittance, bill payments, and other value transfers. Given their direct engagement with clients and transactional activities, PSD agents are considered frontline defenders against money laundering and terrorist financing. Therefore, Anti-Money Laundering (AML) training is not only a regulatory requirement but a business imperative. AML training for PSD agents ensures that they understand the risks associated with financial crime, are capable of identifying suspicious activities, and follow the correct procedures to report concerns. Agents must be fully familiar with their obligations under the UK Money Laundering Regulations 2017, the Proceeds of Crime Act 2002, and any guidelines issued by the FCA or HMRC.

Key Objectives of AML Training for PSD Agents

1. Understanding the Basics of Money Laundering
   Training begins with a clear explanation of how money laundering and terrorist financing work, the typical stages (placement, layering, integration), and how these crimes affect the financial system.

2. Recognising Red Flags in Client Behaviour
   Agents learn to spot unusual transactions, client reluctance to provide ID, inconsistent information, or frequent high-value cash exchanges—key indicators of potential laundering activity.

3. Customer Due Diligence (CDD)
   Agents are taught how to perform standard and enhanced due diligence, including identity verification, risk assessment, and how to deal with politically exposed persons (PEPs) or high-risk countries.

4. Suspicious Activity Reporting (SARs)
   PSD agents must know how to escalate concerns internally to the firm’s MLRO (Money Laundering Reporting Officer) and understand their role in maintaining records of such activity.

5. Ongoing Responsibilities and Record-Keeping
   The training includes guidance on how long to retain documents, what should be recorded, and the importance of updating client risk profiles over time.

Eminent Accountants – Tailored AML Training for PSD Agents

At Eminent Accountants, we provide structured, practical AML training tailored to the specific activities and regulatory obligations of PSD agents. Our programs are designed to meet the expectations of the FCA, EMIs, and principal firms, ensuring agents remain compliant and competent in their roles. We offer interactive in-person sessions and online training modules, complete with real-world examples, assessments, and certification. Eminent’s training empowers PSD agents to protect themselves and their clients while maintaining full regulatory compliance. For agent networks seeking approval or already operating under a payment firm, robust AML training is essential—and Eminent is here to deliver it professionally and efficiently.