There has been some uncertainty regarding when the travel rule obligations apply to international electronic fund transfers (“EFT”) or SWIFT MT-103 messages (or equivalent) (“Prescribed EFT Transactions”). Specifically, the question being asked is “At what threshold does the travel rule obligation apply to Prescribed EFT Transactions?”
Marcelle Dadoun (AML Advisor at The AML Shop) is here to breakdown this topic in a thorough FINTRAC Policy Interpretation on the EFT Travel Rule Threshold.
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