Why do fiat remittances encounter bank review?

Common reasons why fiat remittances may encounter bank review include:

1. Large transactions:
- Transactions exceeding a certain amount will trigger the bank's risk monitoring system
- Banks need to confirm the legality of the source of funds

2. First-time or unusual transactions:
- First remittance to a certain account
- Transactions that do not match your normal transaction pattern

3. Cross-border remittances:
- Involving capital flows between different countries and regions
- Must comply with regulatory requirements of multiple countries

4. Anti-Money Laundering (AML) compliance:
- Banks are obligated to prevent money laundering and terrorist financing
- Suspicious transactions must undergo additional review

5. Sensitive recipient information:
- Receiving account is located in a high-risk area
- Recipient is on the bank's risk list

6. Abnormal transaction frequency:
- Multiple remittances in a short period
- Frequent large transactions

7. Incomplete or inconsistent information:
- Incomplete remittance information
- Provided information does not match bank records

Recommendations:
- Ensure complete and accurate remittance information is provided
- Keep relevant transaction vouchers and documents
- Cooperate with bank compliance review requirements
- If you have questions, contact BiyaPay customer service for assistance