Requirements

You must conduct a comprehensive risk assessment of your business policies and practices, fraud prevention and detection techniques, anti-money-laundering program, and risk controls. In addition to implementing fraud prevention tools, you must implement business practices to minimize fraud losses.

You must comply with the

Visa Core Rules and Visa Product and Service Rules

, local regulations, applicable sanctions, anti-money laundering laws, and anti-terrorist financing laws.

For each AFT, you must collect and verify data about the sender. You must also screen sender data against relevant watch lists in accordance with local laws and regulations for the purposes of risk management, sanctions enforcement, and anti-money-laundering and anti-terrorist financing control.

The method you use to authenticate sender data must follow regulatory and industry standards and best practices as well as applicable local laws and regulations. Examples are the use of government-issued photo identification, PINs, Visa Secure, Internet banking identification, telephone banking identification, and consumer device cardholder verification method.

You must implement transaction monitoring and screening procedures to flag high-risk transactions for review prior to submission. These procedures must include these activities:

Modulus 10 checks
Count, amount, and rolling limits
Checks to determine whether the sender is on any applicable government or bank-specific blocked lists

You must implement processes to identify signs of fraud or misuse, including money laundering and terrorist financing.

You must make sure that

Payouts

transactions are not being used to pay for goods and services. For example, you can check for a high number or variety of senders to a single recipient.