Automate data transfers with counterparties and ensure compliance with the latest regulatory requirements.
Sumsub’s Travel Rule check is part of our Transaction Monitoring solution. It includes a multi-level risk evaluation system that helps businesses determine the risk of the counterparty and, hence decide on transacting with it.
The main benefits of using the solution are:
- Seamless integration with your system and other Sumsub products. You can use the Travel Rule check along with other user verification and transaction monitoring features and AML checks to get detailed information about each transaction.
- Most popular data exchange protocols under the hood including TRP, GTR, Sumsub custom protocol, and email notifications, to streamline the Travel Rule data exchange. The system will automatically select the quickest and easiest way to obtain the counterparty data.
- VASP attribution allowing to determine whether the VA Transaction is carried out with a VASP or an Unhosted Wallet and establish the Counterparty VASP's identity.
- Screening of VA transaction participants against watchlists, global sanctions lists (OFAC, UN, HMT, EU, DFT, etc.), and adverse media.
- Secure ecosystem. Access to the most recent verification data and other documentation related to other Travel Rule ecosystem members to ensure quick confirmation of all transactions.
- Straightforward solution for the interoperability and the Sunrise issues.
- Vast functionality that allows you to configure the exact fields when exchanging data to meet specific regulations.
- 8000+ supported virtual assets.
- Crypto wallet scoring mechanism that lets our clients set up automated transaction rejection based on the wallet's status.
Find more information about the Travel Rule in this article.