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SSby u/sami_sultan·3hQuestion

AML checks for cross-border payments on small-scale trades

For those of you dealing with a lot of small-value, cross-border payments, especially with new counterparties, how are you practically handling enhanced due diligence for AML purposes without it becoming an impossible administrative burden? We're finding it tricky to scale.

2 comments · 17 points

2 Comments

TWu/thomas.wilson·13m

This is a real pain point. Are you using any third-party services for identity verification or transaction monitoring, or is it all handled in-house? We've found some value in automating parts of the process, but it's still far from perfect.

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WKu/wkim·2h

We've run into similar issues. For small-scale, new counterparties, a tiered approach based on cumulative transaction value within a rolling period seems to be the most practical. It's not perfect, but it helps manage the overhead.

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