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  • Beneficiary Financial Institution

    • AML-2A.2.22

      A beneficiary financial institution must take reasonable measures to identify cross-border wire transfers as well as accepted crypto-asset transfer that lack required originator or required beneficiary information. Such measures may include post-event monitoring or real-time monitoring where feasible.

      Added: January 2020

    • AML-2A.2.23

      For wire transfers as well as accepted crypto-asset transfer, a beneficiary financial institution must verify the identity of the beneficiary, if the identity has not been previously verified, and maintain this information in accordance with Paragraph AML-6.1.1.

      Added: January 2020

    • AML-2A.2.24

      A beneficiary financial institution must have effective risk-based policies and procedures for determining:

      (a) When to execute, reject, or suspend a traditional wire transfer lacking required originator or required beneficiary information; and
      (b) The appropriate follow-up action.
      Added: January 2020