AML Suspense Accounting Flows
- 03 Feb 2022
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AML Suspense Accounting Flows
- Updated On 03 Feb 2022
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Article summary
The Suspense Accounting AML Flow for both incoming and outgoing payments involves actions such as crediting or debiting beneficiary or originator accounts, issuing payment return instructions, and updating AML statuses. Accepted payments result in account credits or credit transfer instructions, while rejected payments lead to returns or failed payment marks. Suspended payments involve crediting the suspense account, with subsequent actions depending on whether the payment is accepted or rejected. Manual redirects for internal and external transactions require standard payment initiation flows. Overall, the process ensures proper handling of payments based on their status and compliance requirements.
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Suspense Accounting AML Flow for an Incoming Payment
Accepted - The Beneficiary Account is credited with the amount specified in the payment
Rejected - The Payment is returned and a Payment Return instruction (pacs.004.001.02) is issued by the Mambu Payment Gateway (MPG)
Suspended - The Suspense Account is Credited with the amount specified in the payment
Accepted when the payment was originally Suspended - The Suspense Account is Debited and the Beneficiary Account is Credited with the original amount
Rejected when the payment was originally Suspended - The Suspense Account is Debited and a Payment Return instruction (pacs.004.001.02) is sent out by the MPG
Manual Redirect Internal - transaction AML status is updated accordingly, the actual internal payment execution must be initiated through the standard Payment Initiation flow.
Manual Redirect External - transaction AML status is updated accordingly, the actual external payment execution must be initiated through the standard Payment Initiation flow.
Suspense Accounting AML Flow for an Outgoing Payment
Accepted - The Originator Account was already debited part of the standard outgoing payment clearing flow, and now a Credit Transfer Instruction (pacs.008.001.02) is issued by the MPG
Rejected - The Payment is marked as failed and the funds are credited back to the Originator Account
Suspended - The Originator Account was already debited part of the standard outgoing payment clearing flow, and now the Suspense Account is Credited with the original payment amount
Accepted when the payment was originally Suspended - The Suspense Account is Debited and a Credit Transfer Instruction (pacs.008.001.02) is issued by the MPG
Rejected when the payment was originally Suspended - The Suspense Account is Debited and the Originator Account is Credited with the original amount
Manual Redirect Internal - transaction AML status is updated accordingly, the actual internal payment execution must be initiated through the standard Payment Initiation flow.
Manual Redirect External - transaction AML status is updated accordingly, the actual external payment execution must be initiated through the standard Payment Initiation flow.
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