Earthport - How to safely facilitate multi-party international payments
Facilitating international payments requires a balance of trust and ‘validated insight’ between any two parties in the payment chain. As external regulatory environments have hardened, traditional correspondent models are increasingly challenged by ‘nested transactions’ and concomitant gaps in KYC/KYCB and KYCC, leading to concerns about proper controls and compliance with regulations. This session shows how to safely and effectively service both business and consumer markets through a combination of pre-emptive recognition of multi-jurisdictional issues, differentiation of ‘multi-party’ vs. ‘nested’ transactions, interpretation of legislation and regulation into practical policies and procedures, and collaborative transaction monitoring and reporting.
Speaker: Andrew H Brown, Global Head of Compliance, Earthport