ARCHIVE/xrpl-dev-portal
1
0
Fork 0
mirror of https://github.com/XRPLF/xrpl-dev-portal.git synced 2025-11-30 16:45:49 +00:00
Code Issues Packages Projects Releases Wiki Activity

Minor style edits

Browse Source
This commit is contained in:
mDuo13
2017-10-04 16:23:03 -07:00
parent 48564c1cb4
commit fac95a11fe
18 changed files with 112 additions and 98 deletions
Download Patch File Download Diff File Expand all files Collapse all files

12
content/tutorial-gateway-guide.md
View File

@@ -58,7 +58,7 @@ Contact [partners@ripple.com](mailto:partners@ripple.com) for help establishing
The value of a gateway's issuances in the XRP Ledger comes directly from the trust that customers can redeem them with the gateway when needed. We recommend the following precautions to reduce the risk of business interruptions:
* Use separate [Issuing and Operational Addresses](concept-issuing-and-operational-addresses.html) to limit your risk profile on the network.
* Comply with anti-money-laundering regulations for your jurisdiction, such as the [Bank Secrecy Act](http://en.wikipedia.org/wiki/Bank_Secrecy_Act). This usually includes requirements to collect ["Know-Your-Customer" (KYC) information](http://en.wikipedia.org/wiki/Know_your_customer).
* Follow anti-money-laundering regulations for your jurisdiction, such as the [Bank Secrecy Act](http://en.wikipedia.org/wiki/Bank_Secrecy_Act). This usually includes requirements to collect ["Know-Your-Customer" (KYC) information](http://en.wikipedia.org/wiki/Know_your_customer).
* Read and stay up-to-date with [Gateway Bulletins](#gateway-bulletins), which provide news and suggestions for XRP Ledger gateways.
* Publicize all your policies and fees.
@@ -92,7 +92,7 @@ Gateways are responsible for complying with local regulations and reporting to t
### Know Your Customer (KYC)
Know Your Customer (KYC) refers to due diligence activities conducted by a financial institution to determine and verify the identity of its customers in order to prevent use of the institution for criminal activity. Criminal activity in financial terms may include money laundering, terrorist financing, financial fraud, and identity theft. Customers may be individuals, intermediaries, or businesses.
Know Your Customer (KYC) refers to due diligence activities conducted by a financial institution to determine and verify the identity of its customers to prevent use of the institution for criminal activity. Criminal activity in financial terms may include money laundering, terrorist financing, financial fraud, and identity theft. Customers may be individuals, intermediaries, or businesses.
The KYC process generally aims to:
@@ -114,7 +114,7 @@ See also:
Money laundering is the process of moving illegal funds by disguising the source, nature or ownership so that funds can be legally accessed or distributed via legitimate financial channels and credible institutions. In short, it is converting “dirty money” into “clean money.” Anti-Money Laundering (AML) refers to the laws and procedures designed to stop money laundering from occurring.
Terrorist financing is the solicitation, collection, and/or provision of funds to organizations engaged in terrorist activity or organizations that support terrorism and its proliferation. Combating the Financing of Terrorism (CFT) refers to the process of identifying, reporting, and blocking flows of funds used to finance terrorism.
Terrorist financing is the solicitation, collection, or provision of funds to organizations engaged in terrorist activity or organizations that support terrorism and its proliferation. Combating the Financing of Terrorism (CFT) refers to the process of identifying, reporting, and blocking flows of funds used to finance terrorism.
See also:
@@ -128,6 +128,8 @@ To prevent illicit funds from passing through their systems, financial instituti
Determining the exact source of funds for every customer may not be administratively feasible. As a result, some regulatory authorities may not provide specific regulation or guidance for all accounts. In specific cases, however, authorities may require financial institutions to identify and report the source of funds. Guidance by the FATF recommends that where the risks of money laundering or terrorist financing are higher (commonly referred to as a “risk-based approach”), financial institutions conduct enhanced due diligence, including but not limited to determining the customer’s source of funds.
<!-- STYLE_OVERRIDE: feasible -->
### Suspicious Activity Reporting
If a financial institution suspects that funds may be related to criminal activity, the institution must file a Suspicious Activity Report (SAR) with the appropriate regulatory authority. Failure to report suspicious activity may result in in penalties for the institution.
@@ -162,7 +164,7 @@ See also:
- [The Consumer Financial Protection Bureau description of the regulation and extensions for banks](http://www.consumerfinance.gov/remittances-transfer-rule-amendment-to-regulation-e/#rule)
- In the European Union, EU Funds Transfer Regulation requires that the originator’s bank, the beneficiary’s bank, and any intermediary banks include certain details of the payer and payee in transaction details in an effort to detect, investigate, and prevent money laundering and terrorist financing.
- In the European Union, EU Funds Transfer Regulation requires that the originator’s bank, the beneficiary’s bank, and any intermediary banks include certain details of the payer and payee in transaction details to detect, investigate, and prevent money laundering and terrorist financing.
See also:
@@ -172,7 +174,7 @@ See also:
### Office of Foreign Assets Control (OFAC)
The Office of Foreign Assets Control (OFAC) is an agency of the US Department of Treasury that administers and enforces economic and trade sanctions in support of U.S. foreign policy and national security objectives. All U.S. persons and U.S. incorporated entities and their foreign branches must comply with OFAC regulations. Under OFAC regulations, U.S. financial institutions are prohibited—unless authorized by OFAC or expressly exempted by statute—from conducting transactions and other dealings with individuals, entities, or countries under sanctions or embargo programs administered and enforced by OFAC.
The Office of Foreign Assets Control (OFAC) is an agency of the US Department of Treasury that administers and enforces economic and trade sanctions in support of U.S. foreign policy and national security objectives. All U.S. persons and U.S. incorporated entities and their foreign branches must follow OFAC regulations. Under OFAC regulations, U.S. financial institutions are prohibited—unless authorized by OFAC or expressly exempted by statute—from conducting transactions and other dealings with individuals, entities, or countries under sanctions or embargo programs administered and enforced by OFAC.
See also: