Originator information consists of the identifying details of the sender or initiator of a financial transaction or digital asset transfer. This data typically includes the sender’s name, account identifiers, and sometimes physical address or digital wallet address. Such details are crucial for tracking the source of funds and complying with regulatory requirements. Accurate collection helps prevent illicit financial activities.
Context
In the digital asset sector, collecting originator information is a core component of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations, often referred to as the “Travel Rule.” Virtual asset service providers (VASPs) are increasingly required to collect and transmit this data for transfers exceeding specific thresholds. This regulatory push aims to bring greater transparency and accountability to virtual asset transactions, a frequent topic in news concerning crypto compliance and regulatory enforcement.
The revised Recommendation 16 requires Virtual Asset Service Providers to integrate enhanced originator and beneficiary data into cross-border transfers.
EU CASPs must immediately integrate EBA guidelines into AML/CFT compliance architecture to ensure transaction tracing and meet the December 30, 2024, enforcement deadline.
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