The Sending Bank / Funds Transfer Systems / The Receiving Bank / The Clearing House Payments Company L.L.C. / Same Bank Funds / /
Continent
America / /
Country
United States / /
Currency
USD / /
Event
M&A / /
IndustryTerm
electronic communications systems / illicit finance / secure electronic financial messaging services / internet-based payment systems / community banks / real-time final settlement system / foreign bank / non-banking segment / bank account / bank / valid and legitimate financial services / telecommunications network / member banks / electronic processing / correspondent bank / traverse such systems / batch-processing / real time gross settlement system / /
Organization
Originator’s Financial Institution / U.S. Department of the Treasury Financial Crimes / U.S. Department of the Treasury / Board of Governors of the Federal Reserve System / US Federal Reserve / Federal Reserve Bank / Society for Worldwide Interbank Financial Telecommunication / U.S. Department of the Treasury Financial Crimes Enforcement Network Feasibility of a Cross-Border Electronic Funds Transfer Reporting System / Beneficiary’s Financial Institution / /
Person
Jones Originator / Johnson Beneficiary Scenarios / /
Appendix D – Fundamentals of the Funds Transfer Process Essentially, an electronic funds transfer is a transaction by which funds move from one institution to another or one account to another at the direction of an in