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Anonymous Wire TransfersDue to know-your-customer/client (KYC) regulations it is not possible to achieve 100% complete anonymity for wire transfers.
Know your customer (KYC)
refers to due diligence
activities that
financial institutions
and other regulated
companies must perform
to ascertain relevant
information from their
clients for the purpose
of doing business with
them. The term is also
used to refer to the
bank regulation which
governs these activities.
Know Your Customer
processes are also
employed by companies of
all sizes for the
purpose of ensuring
their proposed agents',
consultants' or
distributors' anti-bribery
compliance. Banks,
insurers and export
credit agencies are
increasingly demanding
that customers provide
detailed anti-corruption
due diligence
information, to verify
their probity and
integrity.
The objective of KYC guidelines
is to prevent banks from being used,
intentionally or unintentionally, by
criminal elements for money laundering
activities. Related procedures also
enable banks to know or understand their
customers, and their financial dealings
better. This helps them manage their
risks prudently. Banks usually frame
their KYC policies incorporating the
following four key elements:
Search SWIFT codes by country name Search SWIFT codes by bank name What is an International Payment?
International Wire Transfer
SWIFT MT 103 Basic Format for Wire
Transfer
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