There are times that users do not provide any Travel Rule information about the beneficiary when making a withdrawal. We provide Bridge/Wallet Address Filter to help identify the type of the wallet address.
- When confirmed no Sygna VAAI or no other Travel Rule information is provided, use the Bridge/Wallet Address Filter to confirm whether the beneficiary wallet address is a private wallet.
- Once confirmed as a private wallet, VASPs have to ask the originator(VASP user) whether they are the private wallet owner.
- If yes, ask the user to perform a Satoshi Test by sending a specific smaller amount of crypto to an assigned wallet address from the private wallet.
- Once the user performs the Satoshi Test transaction, verify the amount of transfer.
- If the verification is passed, continue the compliance check, including blockchain analysis and sanction name screening.
- If the transaction risk is considered low, perform the actual blockchain transaction.
Updated about 2 years ago