Customer Support plays an important role in the financial services industry, serving as a primary point of contact between regulated entities and their clients. Beyond responding to enquiries and providing assistance, Customer Support professionals are expected to communicate information accurately, handle complaints appropriately and recognise matters that may raise regulatory or Anti-Money Laundering (AML) concerns.
For Cyprus Investment Firms (CIFs), including those expanding their activities to provide crypto-asset services under the Markets in Crypto-Assets Regulation (MiCA), maintaining effective customer communication and strong compliance practices is essential to supporting client protection and meeting regulatory expectations.
Customer Support professionals must therefore understand their responsibilities under the applicable regulatory framework and how their daily interactions contribute to a firm's overall compliance culture.
With this blog post,
Eliana Hadjimichael, Senior Regulatory Compliance Associate at
SALVUS funds and instructor at the Institute for Professional Excellence (IforPE), introduces introduces the key themes covered in the online course “
CySEC Compliant Customer Support: Communication, Complaints & AML.” The course provides professionals with an understanding of the regulatory responsibilities of Customer Support departments, the importance of effective client communication, complaints handling procedures and AML-related obligations.”
The Role of Customer Support in CySEC-Regulated Entities
Customer Support is one of the most visible functions of a regulated financial services firm, maintaining direct and regular communication with clients throughout their relationship with the company.
Customer Support professionals must be able to communicate information about financial products, services and company procedures accurately, while ensuring their interactions remain consistent with the firm's regulatory obligations.
Effective customer communication contributes to transparency, helps clients better understand the services they receive and supports the development of trust between clients and regulated entities.
For CySEC-regulated firms, this requires Customer Support professionals to demonstrate appropriate knowledge, competence and professionalism when addressing client enquiries.
By combining effective communication with regulatory awareness, Customer Support departments can contribute to stronger client relationships and a more robust compliance culture.
Effective Client Communication and Complaints Handling
Clear and professional communication is essential when providing information to clients about financial products, regulatory requirements and operational procedures.
Customer Support professionals must understand how to respond to enquiries appropriately, communicate information in a transparent manner and recognise when a matter requires further attention or escalation.
Maintaining a consistent approach to client communication can help firms reduce misunderstandings and ensure clients receive reliable information throughout their interactions.
Complaints handling represents another important responsibility of Customer Support departments.
Client complaints may arise from concerns regarding financial products, transactions, services or the information provided by a firm. Customer Support professionals therefore play an important role in identifying client dissatisfaction and ensuring complaints are directed through the appropriate internal procedures.
The course also examines CySEC Circulars C338 and C181, helping professionals develop an understanding of the relevant regulatory requirements and their practical implications for customer-facing functions.
Understanding these requirements can assist Customer Support professionals in recognising complaints, facilitating their appropriate handling and supporting the firm's broader regulatory obligations.
AML Responsibilities and the Identification of Suspicious Activities
Anti-Money Laundering compliance is an important component of the regulatory framework governing financial services firms.
Although AML functions and Compliance departments maintain specific responsibilities for overseeing regulatory compliance, Customer Support professionals also contribute to the effectiveness of a firm's AML framework through their direct interactions with clients.
Their regular communication with customers can place them in a position to identify unusual behaviour, inconsistencies in information or circumstances that may require further examination.
The course explores the role of Customer Support in AML compliance and how professionals can identify potential suspicious activities during their daily duties.
Developing this awareness supports the early identification and internal escalation of potential concerns, helping regulated firms maintain effective controls and reinforce a culture of regulatory compliance.
What is the “CySEC Compliant Customer Support: Communication, Complaints & AML” course and what does it include?
Delivered by Eliana Hadjimichael, Senior Regulatory Compliance Associate at SALVUS funds, through the IforPE platform, the “CySEC Compliant Customer Support: Communication, Complaints & AML” course has been developed to equip Customer Support professionals with an understanding of their responsibilities within the CySEC regulatory framework.
With nine years of experience in financial services across customer service and regulatory compliance, Eliana combines practical industry knowledge with regulatory expertise to help professionals understand how compliance requirements apply to everyday customer interactions.
The course focuses on the important functions of Customer Support departments within the investment services industry, providing practical guidance on maintaining professional client relationships while meeting regulatory obligations.
Particular attention is given to AML responsibilities, complaints handling and the requirements addressed in CySEC Circulars C338 and C181. Through practical examples, the course also demonstrates how Customer Support professionals can communicate information effectively, identify potential regulatory concerns and contribute to the development of a strong compliance culture.
The course focuses on the following areas:
- What is Customer Service?
- What is Customer Service?
- Information provided to clients
- The Customer Service Department
- Duties and Responsibilities
-Organizational Requirements
- CIF Obligations & Circular C181
- Interaction with other Departments
- Required Knowledge and Competence of Customer Support agents
- Knowledge & Competence of CS agents
- Providing information about financial products
- How can CS acquire knowledge and competence?
- The fundamentals of an exceptional Customer Service
- Customer Service Best Practices
- The importance of exceptional Customer Service
- Complaints Handling & CySEC Circular C338
- Complaints Policy
- Responsible Persons
- Complaints’ Internal Register
- Responding to the Complainant
- Monthly Complaints Report
- Financial Ombudsman & Complaints regarding CIFs to CySEC
- How can Customer Service proactively avoid complaints t
- Example of Clients’ Complaints
- Practical examples
- How to handle “difficult clients”
- What is a “difficult” client in the investments industry?
- How can Customer Service handle difficult clients?
- Handling difficult clients
- AML – identifying suspicious activity and behavior
- What is Money Laundering & Terrorist Financing?
- What consists of suspicious activity and behavior?
- CIF’s and Employees’ Obligations
- Reporting procedure
- The Tipping-off offence
- CS communication in case of a suspicious activity
- How to create a healthy CS Department & CySEC Circular C181
- Cultivating efficient communication
- Ensuring knowledge and competence
- Monitoring of CS activities
- Talent Management
- Summary
The course is delivered through online video recordings and downloadable PDF study material, allowing professionals to learn whenever and wherever it suits them best. Participants can progress at their own pace, revisit topics as needed and reinforce their knowledge through accessible and structured learning resources.
Upon successful completion, participants receive a certificate awarding 5 CPD hours, recognised by CySEC, the Central Bank of Cyprus, and other professional supervisory bodies. The course contributes towards the annual CPD requirements of CySEC Advanced and Basic Certification holders, as well as professionals registered with ICPAC and the Cyprus Bar Association. 
