Glossary

Get to know the essential Travel Rule terms and definitions.

The following table explains the terms used in our Travel Rule documentation.

Term	Definition
Applicant	In Sumsub Travel Rule records, always your own user, regardless of the transfer direction or of who created the exchange (`data.applicant` in the API).
Beneficiary	A person—natural or legal entity—who receives a virtual asset (VA) transfer from the originator through the beneficiary VASP or unhosted wallet.
Beneficiary VASP	A virtual asset service provider (VASP) that receives the VA transfer of a virtual asset from either the originating VASP or the owner of an unhosted wallet and makes the funds available to the beneficiary.
Blockchain analytics tool	Sumsub data partners — Elliptic, Chainalysis, Crystal Intelligence, Merkle Science, TRM Labs, Nominis, and others — that provide on-chain intelligence. In Crypto Monitoring, they power wallet screening and transaction screening; applicants' own wallets can also be screened through Payment Method Check Advanced. In Travel Rule they are used for VASP attribution, counterparty wallet screening, and populating UTXO transactions with on-chain data — extracting inputs and outputs and inferring the originator when it is not provided.
Counterparty	The participant on the other side of the transfer (`data.counterparty` in the API): Beneficiary when your user sends virtual assets. Originator when your user receives virtual assets.
Crypto wallet attribution	Determining whether a wallet (wallet address) is a hosted wallet and which VASP such a wallet is hosted by.
Data exchange transaction	A transaction created by the client in the Dashboard and designed to transfer data according to the Travel Rule requirements.
EC	Essential Check.
EEC	Extended Essential Check.
Email notification tool	The method of contacting counterparty VASPs via email when it is impossible to establish direct contact with them via supported protocols.
FATF	The Financial Action Task Force, the international body setting global standards for money laundering and terrorist financing prevention.
Free account	A limited-functionality account provided to VASPs, enabling them to respond to TR transactions manually within the Dashboard.
Incoming Travel Rule request	A Travel Rule request a counterparty VASP created about a transfer that involves one of your users — in either direction of the funds. This request arrives with the applicantKytTxnCreated webhook, always with your user as `data.applicant`, and waits for your answer: Confirm that the wallet address belongs to your user. Then share your user's identity. An unanswered request expires when the counterparty's confirmation timeout elapses.
Originating VASP	A virtual asset service provider (VASP) that intends to undertake a VA transfer to a beneficiary VASP on behalf of the originator.
Outgoing Travel Rule request	A Travel Rule request your integration creates: before settlement for a withdrawal your user is making, or after settlement for a deposit that arrived without Travel Rule data. Outgoing describes the request, not the direction of funds: an after-settlement request about a received deposit is still an outgoing request. The user on your side is `data.applicant`; the counterparty is expected to answer.
Sunrise VASP	VASP, which is not obliged to comply with the Travel Rule requirements due to the absence of such in the jurisdiction where it is established and operates.
Transaction Monitoring rule	A rule within the Sumsub Transaction Monitoring solution that allows you to monitor the TR transaction in order to comply with AML/CFT requirements or to identify potentially fraudulent or high-risk VA transfers.
Unhosted wallet	A software or hardware wallet that enables a person to store and transfer virtual assets independently of any VASP and allows that person to administer their own private cryptographic key.
VASP attribution	The process of identifying the virtual asset service provider (VASP) that controls or owns a given wallet address in the context of a Travel Rule transaction. The attribution is performed using Sumsub’s internal registry, protocol-based lookups, and external blockchain analytics providers.
VASP Due Diligence (DD) report	The report that Sumsub completes during VASP Due Diligence. The report contains the results of the verification of all information provided in the VASP Due DiIligence questionnaire and additional information received by Sumsub from data partners and other sources.
VASP Due Diligence (DD) questionnaire	The questionnaire the counterparties of the VASP Due Diligence are required to complete.
VASP registration form	The questionnaire incorporated into the Sumsub Dashboard that a VASP is required to fill in before getting access to its free account.
VASP score	The risk score for a VASP calculated by Sumsub based on the information provided by data partners.
Wallet Address Book (WAB)	Sumsub’s internal registry of wallet addresses and their associated virtual asset service providers (VASPs). The registry is populated directly by VASPs registered in the Sumsub ecosystem and is used as one of the primary sources for VASP attribution in Travel Rule transactions (an explicitly chosen VASP and the internal address book take precedence).

Updated 3 days ago

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