kyc-push.tex (3925B)
1 \section{KYC/AML: Push Payment} \label{sec:kyc:push} 2 3 \begin{figure}[h!] 4 \begin{center} 5 \begin{tikzpicture}[node distance=0.9cm,font=\sffamily, 6 start/.style={rectangle, rounded corners, minimum width=3cm, minimum height=1cm,text centered, draw=black, fill=yellow!30}, 7 end/.style={rectangle, rounded corners, minimum width=3cm, minimum height=1cm,text centered, draw=black, fill=red!30}, 8 process/.style={rectangle, minimum width=3cm, minimum height=1cm, text centered, draw=black, fill=orange!30}, 9 failed/.style={rectangle, rounded corners, minimum width=3cm, minimum height=1cm, text centered, draw=black, fill=red!30}, 10 io/.style={trapezium, trapezium left angle=70, trapezium right angle=110, minimum width=3cm, minimum height=1cm, text centered, draw=black, fill=blue!30}, 11 decision/.style={diamond, minimum width=3cm, minimum height=1cm, text centered, draw=black, fill=green!30}, 12 arr/.style={very thick,-latex}, 13 every edge quotes/.style = {auto, font=\footnotesize, sloped} 14 ] 15 \node (start) [start] {Start}; 16 \node (wallet) [decision,below=of start,text width=2.5cm] {Wallet linked to (domestic) phone number?}; 17 \node (domestic) [process, right=of wallet] {Validate phone number}; 18 \node (amount) [decision, below=of wallet,text width=2.5cm] {Wallet received less than KYC threshold from other wallets?}; 19 \node (kyc) [process, right=of amount] {KYC process}; 20 \node (high) [decision, below=of amount,text width=2.5cm] {Wallet received more than its AML threshold?}; 21 \node (aml) [process, right=of high] {AML process}; 22 \node (dummy) [below right=of aml] {}; 23 \node (allow) [end, below right=of dummy] {Allow}; 24 \node (deny) [failed, right=of kyc] {Deny}; 25 \draw[arr] (start) -> (wallet) {}; 26 27 \draw[arr] (wallet) -> (amount); 28 \draw (wallet) edge["Yes"] (amount); 29 30 \draw[arr] (wallet.east) -> (domestic); 31 \draw (wallet.east) edge["No"] (domestic); 32 33 \draw[arr] (domestic) -> (amount); 34 \draw (domestic) edge["Confirmed"] (amount); 35 36 \draw[arr] (domestic) -> (deny); 37 \draw (domestic) edge["Failed"] (deny); 38 39 \draw[arr] (amount) -> (high); 40 \draw (amount) edge["Yes"] (high); 41 42 \draw[arr] (amount.east) -> (kyc); 43 \draw (amount.east) edge["No"] (kyc); 44 45 \draw[arr] (kyc) -> (deny); 46 \draw (kyc) edge["Failed"] (deny); 47 48 \draw[arr] (kyc) -> (high); 49 \draw (kyc) edge["Succeeded"] (high); 50 51 \draw[arr] (high.south) -> (allow); 52 \draw (high.south) edge["Yes"] (allow); 53 54 \draw[arr] (high.east) -> (aml); 55 \draw (high.east) edge["No"] (aml); 56 57 \draw[arr] (aml) -> (deny); 58 \draw (aml) edge["Violation"] (deny); 59 60 \draw[arr] (aml) -> (allow); 61 \draw (aml) edge["Ok"] (allow); 62 \end{tikzpicture} 63 \end{center} 64 \caption{Regulatory process when receiving payments from another wallet. 65 The threshold depends on the risk profile from the KYC process. 66 When the transfer is denied, the money is held in escrow 67 until authorities authorize the transfer.} 68 \end{figure} 69 70 71 \begin{table}[h!] 72 \caption{Settings for the push payment trigger. Note that the operation 73 must satisfy all of the given rules.} 74 \begin{tabular}{l|l|r} 75 {\bf Setting} & {\bf Type} & {\bf Value} \\ \hline \hline 76 Permitted phone numbers & Dialing prefix & {\em +41} \\ 77 SMS-Identification & Amount/month & {\em 0 CHF} \\ 78 P2P KYC threshold & Amount/month & {\em 2500 CHF} \\ 79 P2P KYC threshold & Amount/year & {\em 15000 CHF} \\ 80 Default P2P AML threshold & Amount/month & {\em 2500 CHF} \\ 81 \end{tabular} 82 \end{table} 83 84 %The P2P KYC thresholds of 5'000 \CURRENCY{} per month and than 15'000 85 %\CURRENCY{} per year ensure compliance. % with article 49-2c. 86 87 SMS-Identification is done by in-house software. KYC data is initially 88 obtained and vetted by one of several external KYC providers before 89 being passed for manual validation by our own staff who can then 90 determine appropriate AML thresholds and set review criteria.