commit ffa45201bd1c279a5ca83cd8dedf08ac115049e1
parent bafd446f7688e6764cb1d9aad9f38e2712753d4b
Author: Christian Grothoff <christian@grothoff.org>
Date: Thu, 24 Aug 2023 22:47:25 +0200
make amounts more consistent
Diffstat:
5 files changed, 42 insertions(+), 22 deletions(-)
diff --git a/doc/flows/kyc-deposit.tex b/doc/flows/kyc-deposit.tex
@@ -64,11 +64,11 @@
\caption{Settings for the deposit trigger. Note that the operation
must satisfy all of the given rules.}
\begin{tabular}{l|l|r}
- {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
- Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline
+ {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
+ Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline
KYB deposit threshold & Amount/month & {\em 5000 CHF} \\
KYB deposit threshold & Amount/year & {\em 25000 CHF} \\
- Default AML deposit threshold & Amount/month & {\em 2500 CHF} \\
+ Default AML deposit threshold & Amount/month & {\em 5000 CHF} \\
\end{tabular}
\end{table}
@@ -78,3 +78,8 @@ The KYB deposit threshold of 5'000 \CURRENCY{} per month and than 25'000
Additionally, our terms of service will prohibit businesses to receive
amounts exceeding 1'000 \CURRENCY{} per transaction (well below the
15'000 \CURRENCY{} threshold defined in article 24-1c).
+
+SMS-Identification is done by in-house software. KYB data is initially
+obtained and vetted by one of several external KYB providers before
+being passed for manual validation by our own staff who can then
+determine appropriate AML thresholds and set review criteria.
diff --git a/doc/flows/kyc-pull.tex b/doc/flows/kyc-pull.tex
@@ -74,13 +74,19 @@
\caption{Settings for the pull payment trigger. Note that the operation
must satisfy all of the given rules.}
\begin{tabular}{l|l|r}
- {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
- Permitted phone numbers & Dialing prefix & {\em +41} \\
- P2P KYC threshold & Amount/month & {\em 1000 CHF} \\
- P2P KYC threshold & Amount/year & {\em 5000 CHF} \\
- Default P2P AML threshold & Amount/month & {\em 2500 CHF} \\
+ {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
+ Permitted phone numbers & Dialing prefix & {\em +41} \\
+ SMS-Identification & Amount/month & {\em 0 CHF} \\
+ P2P KYC threshold & Amount/month & {\em 5000 CHF} \\
+ P2P KYC threshold & Amount/year & {\em 25000 CHF} \\
+ Default P2P AML threshold & Amount/month & {\em 5000 CHF} \\
\end{tabular}
\end{table}
-The P2P KYC thresholds of 1'000 \CURRENCY{} per month and than 5'000
+The P2P KYC thresholds of 5'000 \CURRENCY{} per month and than 25'000
\CURRENCY{} per year ensure compliance with article 49-2c.
+
+SMS-Identification is done by in-house software. KYC data is initially
+obtained and vetted by one of several external KYC providers before
+being passed for manual validation by our own staff who can then
+determine appropriate AML thresholds and set review criteria.
diff --git a/doc/flows/kyc-push.tex b/doc/flows/kyc-push.tex
@@ -72,13 +72,19 @@
\caption{Settings for the push payment trigger. Note that the operation
must satisfy all of the given rules.}
\begin{tabular}{l|l|r}
- {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
- Permitted phone numbers & Dialing prefix & {\em +41} \\
- P2P KYC threshold & Amount/month & {\em 1000 CHF} \\
- P2P KYC threshold & Amount/year & {\em 5000 CHF} \\
- Default P2P AML threshold & Amount/month & {\em 2500 CHF} \\
+ {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
+ Permitted phone numbers & Dialing prefix & {\em +41} \\
+ SMS-Identification & Amount/month & {\em 0 CHF} \\
+ P2P KYC threshold & Amount/month & {\em 5000 CHF} \\
+ P2P KYC threshold & Amount/year & {\em 25000 CHF} \\
+ Default P2P AML threshold & Amount/month & {\em 5000 CHF} \\
\end{tabular}
\end{table}
-The P2P KYC thresholds of 1'000 \CURRENCY{} per month and than 5'000
+The P2P KYC thresholds of 5'000 \CURRENCY{} per month and than 25'000
\CURRENCY{} per year ensure compliance with article 49-2c.
+
+SMS-Identification is done by in-house software. KYC data is initially
+obtained and vetted by one of several external KYC providers before
+being passed for manual validation by our own staff who can then
+determine appropriate AML thresholds and set review criteria.
diff --git a/doc/flows/kyc-withdraw.tex b/doc/flows/kyc-withdraw.tex
@@ -41,15 +41,18 @@
\caption{Settings for the withdraw trigger. Note that the operation
must satisfy all of the given rules.} \label{table:kyc:withdraw:settings}
\begin{tabular}{l|l|r}
- {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
- Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline
- SMS-Identification & Amount/month & {\em 200 CHF} \\
- Withdraw limit & Amount/month & {\em 5000 CHF} \\
+ {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline
+ Allowed bank accounts & RFC 8905 RegEx & {\em CH*} \\ \hline
+ SMS-Identification & Amount/month & {\em 200 CHF} \\
+ Withdraw limit & Amount/month & {\em 5000 CHF} \\
Withdraw limit & Amount/year & {\em 25000 CHF} \\
- Bounce period & Delay & 1 month \\
+ Bounce period & Delay & 1 month \\
\end{tabular}
\end{table}
The limit of 200 \CURRENCY{} results from article 48-2. Strictly limiting
withdrawals to less than 5'000 \CURRENCY{} per month and less than 25'000
\CURRENCY{} per year assures compliance with article 48-1c.
+
+SMS-Identification is done by in-house software. Withdraw limits are
+hard and cannot be raised even if the customer is known.
diff --git a/doc/flows/main.tex b/doc/flows/main.tex
@@ -66,10 +66,10 @@ For customers, we will categorically limit of digital cash withdrawn per month
to less than CHF 5'000 per month and less than CHF 25'000 per year, thus
ensuring that consumers remain below the thresholds where most regulatory
processes become applicable. Payments between users will be limited
-to receiving less than CHF 1'000 per month and less than CHF 5'000 per year.
+to receiving less than CHF 2'500 per month and less than CHF 25'000 per year.
We will ensure that customers are Swiss
(see Section~\ref{sec:proc:domestic}) by requiring them to have a Swiss bank
-account and/or Swiss phone number (+41-prefix).
+account and/or a Swiss phone number (+41-prefix).
%Furthermore, the wallet will
%impose an upper limit of CHF 5000 on its balance at any point in time.
