The Payment Services Regulations 2017 (the ‘Regulations’) apply to banks, building societies, card issuers, and other firms which provide payment services.
Professional Indemnity Insurance (PII) covers organisations for compensation claims made by clients or other third parties. Learn more about PII for FCA firms.
The LSAG Guidance specifically advises using technology as an aid in ongoing monitoring. The regulations require firms to undertake some form of ongoing monitoring.