Compliance requirements for the new iso 20022 payment messages         

By the end of this course you will be able to:

.Basic knowledge about the reason for migration

.Explain the ISO 20022 characteristics

.Explain the MX pacs.008

.Explain the MX pacs.009

.Revise if the FATF Rec.16 and the wolfsberg payment transparency standards requirements are fully met within the new XML iso 20022 messages or not

Course Outline:

.1- The reason for replacing the old legacy swift payment messages by the iso 20022 XML messages

.2- Timeline for the migration

.3- Which activities will be migrating to ISO 20022

.4- Introduction to ISO 20022 standard

.5- Who put the rules of the technicalities “what to do”?

.6- Migration from MT to MX

.7- Explaining the pacs.008.001.08 and the pacs.009.001.08

.7-1 structure of ISO 20022 business message (BAH)

.7-2 pacs.008 & pacs.009 group header elements

.7-3 pacs.008 & pacs.009 group Credit Transfer Transaction Information

.8- revising if the pacs.008 and pacs.009 COV components satisfy the requirements of:

.8-1 FATF Recommendation 16 requirements for customer transfers

.8-2 Local regulations requirements for customer transfer

.8-3 Wolfsberg payment transparency standards

.9- Elements of the pacs.008 and pacs.009 COV that is required to be scanned for compliance with sanctions requirements

Target Audience:

.Complince, AML and internal audit dept

Prerequisites:

This course entitles you to attend:

Upon successful completion of this course, participants will obtain: