Travel Rule

AML 101: The 10 Most Common Red Flags

AML red flags are warning signs that an individual or business presents a higher risk of engaging in money laundering and other illicit financial activity. By establishing structured and consistent methods for identifying red flags, regulated businesses can optimize their AML processes and effectively meet their compliance challenges. In this article, we outline the top 10 AML red flags — and how to detect and deal with them using automated KYC solutions.

24 Mar 2023

Compliance, Travel Rule

FATF Releases Updated VASP Guidance for public consultation

As promised following its plenary session in February, the FATF has now released its draft guidance for Virtual Asset Service Providers (VASPs) for public consultation. In this article, we take a look at some of the key updates and suggestions.

29 Mar 2021

AML, Aml And Kyc Tool, CDD, Travel Rule

KYC Vs Travel Rule Compliance: What’s the Difference?

Two terms that are of key importance in any discussions on crypto compliance issues are Know Your Customer (KYC) and the Travel Rule. In this article we explain what they are, how they differ and how they’re related.

28 Jan 2021

Kyc Solution, RegTech, Regulation, Travel Rule

2020 Travel Rule Development Review

Arguably one of the biggest drivers of innovation in the regtech industry has been the movement to accelerate adoption of the FATF’s Recommendation 16 – commonly referred to as the Travel Rule. That expansion has sparked a wide range of new developments, initiatives and solutions, which we cover in this article.

30 Dec 2020

Compliance Software, RegTech, Travel Rule

SelfKey’s Compliance Hub Solution: Key Benefits for VASPs

SelfKey’s new Compliance Hub provides a straightforward and efficient end-to-end solution for Virtual Asset Service Providers (VASPs) to comply with the FATF’s Recommendation 16: the so-called ‘Travel Rule’. In this article, we outline some of the key benefits VASPs can enjoy by using the SelfKey Compliance Hub.

15 Dec 2020

Compliance, Compliance Software, KYC Software, Travel Rule

Comparing Travel Rule Compliance Solutions

SelfKey’s Compliance Hub Solution has been designed to make compliance with the FATF’s Travel Rule more simple, effective and safer both for VASPs and their customers. This article explores how it does just that, adding to an already vibrant ecosystem of projects building solutions to this challenge.

1 Dec 2020

Compliance, Cryptocurrency, FATF, Regulation, Travel Rule

FATF Travel Rule for VASPs: Challenges and Next Steps

In June 2019, the Financial Action Task Force (FATF) updated its Travel Rule to include VASPs. A year on, VASPs and national regulators still face many challenges in implementing the Recommendation. However, positive steps have been taken to help bring the growing sector into the regulatory fold of the broader financial industry.

18 Sep 2020