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Master Account

Procedures

Navigating AML obligations in the age of virtual IBANs

The Payments Association

FEBRUARY 10, 2025

The primary focus on monitoring master accounts leaves an oversight gap that can be exploited for illicit financial activities. Since vIBANs are often treated as extensions of master accounts rather than independent relationships, firms fail to apply appropriate risk assessment frameworks.

IBAN

IBAN AML Master Account Due Diligence

Making International Supply Chain Money Move Faster

PYMNTS

JUNE 7, 2018

“Because of the multicurrency aspect of our account, it also [means] the artist could … receive [her] revenue in the currency of the area [she is] in.”. These clients can then make individual or batch payments from each sub-account. They can manage multiple accounts to one interface,” Jamieson said.

Master Account

Master Account Multi-Currency Reconciliation Multifactor Authentication

Payments Space

Navigating AML obligations in the age of virtual IBANs

Making International Supply Chain Money Move Faster

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