The Notabene Rules Engine operates using a waterfall logic, where the order of the rules determines the sequence and priority in which they are applied. This means the first rule in your configuration takes precedence over any subsequent rules. To ensure optimal functionality, we recommend setting up rules in the following order:
The rules with highest priority cover the parameters that trigger an automatic rejection. As an example, you can includes rules to:
Automatically cancel Travel Rule transfers going to/coming from VASPs located in jurisdictions subject to FATF's call for action;
Automatically cancel Travel Rule transfers going to/coming from VASPs that, for other reasons, you may not trust.
Then, we set-up the parameters that should trigger a manual review by the compliance team. As an example, you can add rules to:
Send Travel Rule transfers flagged with High and Medium risk scores by Chainalysis for manual review
Send Travel Rule transfers flagged with Potential match by ComplyAdvantage for manual review
Please note: This configuration needs to be adapted to your own blockchain analytics and sanction screening providers.
Finally, we set-up the parameters that enable an automatic acceptance. As an example, you can includes rules to:
Automatically accept Travel Rule transfers going to/coming from VASPs that you may trust for other reasons.
Automatically accept Travel Rule transfers that fall below your jurisdictional threshold.
To help you get started with custom rules, we've created a template for advanced rule configurations here.
Please keep in mind that your rules settings must be defined in consultation with your compliance/legal team or counsels. This article is for informational purposes only and does not constitute legal advice.
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