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3.3.3. Wire Transfers Requirements

Effective from 1/8/2022

Articles 27-29 of the AML-CFT Decision contain specific requirements with regard to information that LFIs must collect, and transmit with the wire transfer, when conducting an international wire transfers as well as specific obligations related to domestic wire transfers. In addition, Guidance on CDD measures concerning wire transfers is laid down in section 6.3.2 of the Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism and Illicit Organizations for Financial Institutions. It is important to note that since many Payment Sector participants qualify as financial institutions, the applicability of these requirements is wide-ranging.