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Set Rules to send Travel Rule transfers to manual review

Lesa Moné
Lesa Moné
August 1, 2022
Lesa, Head of Content at Notabene, utilizes her deep knowledge in B2B SaaS and crypto marketing to produce compelling content that reinforces Notabene's position as a key thought leader in the crypto regulatory technology field.

‍‍Hi there!

We’re excited to share our most recent product release with you. This release brings a mobile version of the wallet identification widget, Merkle Science integration, updating missing originator VASP information, and much more. 

1. Integrate Notabene’s beneficiary identification widget into mobile apps

Notabene’s widget allows you to dynamically collect beneficiary customer information, based upon the particular requirements of your jurisdiction. This ensures the creation of valid travel rule transactions. This update brings the widget to mobile devices.

To access this feature: Download and install the Notabene SDK, then render the widget. Click here for a developer deep-dive.

(A view of Notabene's wallet identification widget on mobile.)

2. Know when your counterparty’s jurisdictional requirements call for a Travel Rule data transfer

Get notified when a transaction classified as “below threshold” in your jurisdiction is actually above the threshold in your counterparty’s jurisdiction. 

Different jurisdictions have varying “de-minimis” thresholds that trigger Travel Rule compliance. For example, Canadian VASPs must follow the Travel Rule for transactions above CAD 1000 while Estonian VASPs have to send and receive data transfers for all transactions over EUR 0.

From now on, Compliance Officers get alerted when a transaction is “below threshold” in their jurisdiction but “above threshold” in their beneficiary’s jurisdiction. This helps them to decide whether they wish to send additional data to assure that their transaction gets accepted by their counterparty VASP.  

3. Set Rules to send Travel Rule transfers to manual review 

Customers can now set up rules in the dashboard that sends transactions to their inbox for manual review. 

Get more sophisticated with your compliance rules. Specify criteria under which transactions are sent for manual review. 

Access this feature by heading to your Dashboard > VASP Name > Rules > Advanced.

(How to set rules to send Travel Rule transfers to manual review)

4. Update missing originator VASP information

Customers (Beneficiary VASPs) can now update incoming transactions with Travel Rule data  

When receiving a Travel Rule transaction, Beneficiary VASP might request Travel Rule information about the Originator VASP and customer from their own customer, the Beneficiary. This feature gives them the ability to update the information accordingly within the dashboard.

Access this feature from your Travel Rule Dashboard > Transactions.

5. Merkle Science integration

Customers can now set up rules based on Merkle Science risk scores.

We've added Merkle Science to our marketplace to integrate blockchain cryptocurrency risk and intelligence platforms that our customers request.

This feature assists VASPs in two ways:

  • Automatically Determine VASPs based on the blockchain addresses of the counterparty.
  • Establish rules to approve or reject transactions based on the risk scores of blockchain addresses.

Access this feature by navigating to your Notabene Dashboard > Company Profile > Marketplace.