Yan from Owner.One

When sending a payment today, one cannot be sure it will reach the addressee. The bank's client presses “send” and almost nothing depends on him. The myth of risks being scarce, with the worst being the bank simply returning the money, is in the past. Why might a bank reject a transaction? Someone in the chain of banks finds the transaction (KYT) or the customer’s profile (KYC) questionable. Most international payments follow the “bank - multiple correspondent banks - bank” route. Any bank in the chain has a wide action range: returning the funds and including the client in its stop-list, initiating the client’s dossier deterioration in World Check and analogues, or informing government agencies. If three banks executed a transaction and the last one stopped it, no bank will actively step up for the client. Rather, the client will be subject to an additional verification from his bank. 87.6% of affluent families do not analyze the aforementioned and do not take preventive measures.