Terminology

The following table lists the Travel Rule terms.

Term	Definition
Beneficiary	A person (natural or legal entity) who receives a Virtual Aasset (VA) transfer from the originator through the beneficiary's 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 (for example, Crystal Blockchain or MerkleScience) operating within the Travel Rule solution for the purposes of wallet attribution or conducting essential checks.
Counterparty	The beneficiary in regards to the originator and the originator in regards to the beneficiary of any VA transaction.
Crypto wallet attribution	Determining whether a wallet (wallet address) is a hosted wallet and which VASP such wallet is hosted by.
Data exchange transaction	A transaction created by the Client in the Dashboard, designed to transfer data according to 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	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 and enabling them to respond to TR transactions manually within the Dashboard.
Originating VASP	A virtual asset service provider (VASP) that intends to undertake a VA TransactionVA transfer to a Beneficiary VASP on behalf of the Originator.
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 which 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.
TR Transacation Rule (TR Rule)	Rules set up within the Sumsub Travel Rule Solution to determine the logic of how TR transactions are processed for the purpose of compliance with Travel Rule.
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 Due Diligence 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 DIligence 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.