How does the travel rule work?
How does the travel rule work? To quickly recap, the Travel Rule requires VASPs to share the personal information of a transaction's sender and recipient with other financial businesses or VASPs. Since the FATF does not advise the use of any specific data sharing technology, there is no single protocol or network for data transfer.
What is smurfing?
Smurfing is considered a second-party scheme. Basically, it's money laundering, but scammers do it by breaking large transactions up into multiple smaller, less suspicious transactions and spreading them over many different accounts to avoid detection.