<p>See <a href="https://www.fatf-gafi.org/en/publications/Virtualassets/Virtual-assets-fatf-standards.html" rel="nofollow noreferrer">https://www.fatf-gafi.org/en/publications/Virtualassets/Virtual-assets-fatf-standards.html</a></p>
<h1>FATF</h1>
<blockquote>
<p>The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.</p>
<p>The 40-member body sets international standards to ensure national authorities can effectively go after illicit funds linked to drugs trafficking, the illicit arms trade, cyber fraud and other serious crimes. In total, more than 200 countries and jurisdictions have committed to implement the FATF’s Standards as part of a co-ordinated global response to preventing organised crime, corruption and terrorism.</p>
<p>The FATF was established in 1989 and is based in Paris.</p>
</blockquote>
<h1>VASP</h1>
<blockquote>
<p>Virtual asset service providers need to:</p>
<ul>
<li>Implement the same preventive measures as financial institutions, including customer due diligence, record keeping and reporting of suspicious transactions</li>
<li>Obtain, hold and security <strong>transmit originator and beneficiary information when making transfers</strong></li>
</ul>
</blockquote>
<p>(my emphasis)</p>
<hr />
<p>You tagged your question <a href="/questions/tagged/exchange-fees" class="post-tag" title="show questions tagged &#39;exchange-fees&#39;" aria-label="show questions tagged &#39;exchange-fees&#39;" rel="tag" aria-labelledby="tag-exchange-fees-tooltip-container" data-tag-menu-origin="Unknown">exchange-fees</a> - Note that confidence tricksters / fraudsters often misuse jargon to confuse and deceive their victims. Some fake exchange might use jargon like <strong>VASP</strong> to confuse and panic  their victims into paying them more money.</p>
<p>See <a href="https://bitcoin.stackexchange.com/q/103891/13866">Is it normal to be asked for an advance fee on a withdrawal?</a></p>

CC BY-SA 4.0
2024-05-08T13:32:59.927Z
2024-05-08T13:46:43.493Z
2024-05-08T13:46:43.493Z
RedGrittyBrick
<p>The exchange requests the beneficiary's VASP. What to indicate?</p>

<exchanges><client><private-key-export><blockexplorer><exchange-fees>
VASP beneficiary exchange. What to indicate
D А
# VASP beneficiary exchange. What to indicate

(Asked by: username_0 on 2024-05-07)

The exchange requests the beneficiary's VASP. What to indicate?

**Tags:** exchanges, client, private-key-export, blockexplorer, exchange-fees


---

## 1 answers

### Answer by username_1 on 2024-05-08. Score: 0

See <https://www.fatf-gafi.org/en/publications/Virtualassets/Virtual-assets-fatf-standards.html>

# FATF

> The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
>
> The 40-member body sets international standards to ensure national authorities can effectively go after illicit funds linked to drugs trafficking, the illicit arms trade, cyber fraud and other serious crimes. In total, more than 200 countries and jurisdictions have committed to implement the FATF’s Standards as part of a co-ordinated global response to preventing organised crime, corruption and terrorism.
>
> The FATF was established in 1989 and is based in Paris.

# VASP

> Virtual asset service providers need to:
>
> * Implement the same preventive measures as financial institutions, including customer due diligence, record keeping and reporting of suspicious transactions
> * Obtain, hold and security **transmit originator and beneficiary information when making transfers**

(my emphasis)

---

You tagged your question [exchange-fees](/questions/tagged/exchange-fees "show questions tagged 'exchange-fees'") - Note that confidence tricksters / fraudsters often misuse jargon to confuse and deceive their victims. Some fake exchange might use jargon like **VASP** to confuse and panic their victims into paying them more money.

See [Is it normal to be asked for an advance fee on a withdrawal?](https://bitcoin.stackexchange.com/q/103891/13866)


---

