Below are suggested guidelines for configuring your rules engine to assist with EU/EEA TFR compliance, effective December 30, 2024.
Please note that these are recommendations only. You should configure your rules in consultation with your compliance or legal team. This template is for informational purposes only and does not constitute legal advice.
For OUTGOING transfers:
PLEASE NOTE:
Automatically cancel transfers involving sanctioned jurisdictions.
Set transfers involving jurisdictions considered "grey" for manual review.
Some VASPs find it helpful to define full acceptance criteria for each rule to automate approvals. If you choose to do so, ensure it aligns with your own risk-based approach.
For INCOMING transfers
PLEASE NOTE:
Automatically decline transfers involving sanctioned jurisdictions.
Set transfers involving jurisdictions considered "grey" for manual review.
Some VASPs find it helpful to define full acceptance criteria for each rule to automate approvals. If you choose to do so, ensure it aligns with your own risk-based approach.
Your technical team can implement this template Advanced rules configuration by following the instructions here.
For any questions reach out to our support team.