AML & KYC: Best Practices: Transaction Data Points

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Transaction Data Points for MSBs

The following are the necessary transaction data points that are captured for all Money Services Business related transactions:

  1. Transaction Number
  2. Transaction Date
  3. Transaction Time (for transmissions)
  4. Transaction Amount in US Dollars (for transmissions)
  5. Amount and Type of Currency Received & Given (for exchanges)
  6. Rate of Exchange (if applicable)
  7. Transaction Fee or Commission
  8. Customer Name
  9. Customer Address
  10. Customer Telephone Number (for transmissions)
  11. Customer Social Security Number (if US citizen or permanent resident)
  12. Passport Number or Official ID Number (if alien and has no SSN)
  13. Country of Issuance of Passport or Official ID
  14. Customer Date of Birth
  15. Customer Photo ID Number
  16. Customer Photo ID Type
  17. Customer Photo ID State/Country of Issuance
  18. Beneficiary Name (for outgoing transmissions)
  19. Beneficiary Address (for outgoing transmissions)
  20. Beneficiary Telephone Number (for outgoing transmissions)
  21. Sender Name (for incoming transmissions)
  22. Sender Address (for incoming transmissions)
  23. Sender Telephone Number (for incoming transmissions)
  24. Name of Person on Whose Behalf transaction conducted (if applicable)
  25. Address of Person on Whose Behalf transactions conducted (if applicable)
  26. FEIN or SSN of Person on Whose Behalf transactions conducted (if applicable)
  27. Location of the Office where transaction conducted
  28. Method of Payment (for transmissions)
  29. Initials of Employee effecting transaction
  30. Comments (if any of the above info is stored in comments field)

Above 30 transaction data points should be exported in CSV File and/or Microsoft Excel (preferred)