In the UK, Travel Rule requirements are set forth in the Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations 2022 ("Regulations")
Threshold
Amount | Currency | Source |
1,000 | EUR | Section 64C(4) of the Regulations |
Required Originator and Beneficiary information vs Notabene system
Party to the TX | Required information (*) | IVMS field | Required < Threshold? (**) | Required > Threshold? (**) |
Originator | Name |
| Yes | Yes |
Originator | Account number |
| Yes | Yes |
Originator | Address |
| No | OR |
Originator | Birth certificate number / passport number / national identity number |
| No | OR |
Originator | Customer identification number |
| No | OR |
Originator | Date and place of birth |
| No | OR |
Beneficiary | Name |
| Yes | Yes |
Beneficiary | Virtual asset account number |
| Yes | Yes |
(*) According to Sections 64C(5) and 64C(6) of the Regulations
(**) YES = Required ; OR = Alternative fields
NOTE: The UK requirements differ between domestic and cross-border transactions. Currently, our validation only takes into account the transaction amount as documented ABOVE. Hence, when the transaction is above 1,000 EUR, UK VASPs are required to provide additional information about the originator customer, regardless of the jurisdiction of the counterparty VASP. When the Beneficiary is a global VASP with several subsidiaries, it is often not possible to discover the specific jurisdiction of the entity that is receiving the transaction at the time the travel rule transfer is created. So, for simplicity, currently, the system treats all transactions as if they were international.