FinTech & AML Compliance

A specialized program that examines Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) risks associated with emerging financial technology (FinTech) business models, including digital wallets, instant payment services, and peer-to-peer (P2P) lending platforms. The program aligns AML/CFT compliance practices with the regulatory requirements of the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), and the Financial Action Task Force (FATF), enabling FinTech firms operating in Saudi Arabia to establish robust, risk-based compliance frameworks.

Duration: 3 Days
Training Hours: 18 Training Hours
Target Audience: Professionals working in FinTech companies, compliance officers at payment service providers and digital wallet operators, and risk analysts in financial technology startups.
Delivery Mode: In-person / Live Online / Hybrid

Detailed Learning Objectives

By the end of the program, participants will be able to:

• Understand the unique AML/CFT risk profiles of FinTech business models and how they differ from those of traditional financial institutions.
• Design AML/CFT compliance programs tailored to digital business models in accordance with SAMA’s regulatory requirements.
• Implement electronic Know Your Customer (eKYC) processes and remote customer onboarding procedures while ensuring regulatory compliance.
• Develop and operate automated transaction monitoring systems, including alert management and case escalation processes.
• Understand SAMA’s Regulatory Sandbox framework and the licensing requirements applicable to innovative FinTech business models.

Key Topics

• Saudi FinTech Regulatory Framework: SAMA regulations, Capital Market Authority (CMA) requirements, and the Regulatory Sandbox framework.
• AML Risk Landscape for FinTech: Money laundering and terrorist financing risks in payment platforms, digital wallets, and peer-to-peer (P2P) lending services.
• Electronic KYC (eKYC) and Digital Identity Verification: Technologies, regulatory standards, and remote customer due diligence controls.
• Transaction Monitoring Systems: Rule configuration, alert management, case investigation, and Suspicious Transaction Report (STR) submission.
• International Standards for FinTech and Virtual Asset Service Providers (VASPs): FATF guidance on virtual assets and virtual asset service providers, with implications for the Saudi FinTech ecosystem.