Screen the destination wallet before sending crypto

The problem

The destination address arrives in an email or a chat message. Somebody pastes it into a blockchain tool, or does not, and a screenshot of the answer ends up in a thread. Once the transfer is made, nobody can say which address was checked, by whom, or when.

What can happen

• Crypto transfers are generally hard to reverse, so a destination nobody screened is a risk you tend to learn about afterwards.
• Colleagues check the same kind of address in different ways and keep different records.
• When a bank, an auditor or a manager asks what was checked before the transfer, the answer is a screenshot.

A better process

Screen the address in Wallet Checks before you send. Your team enters it and the result is filed against your Workspace with its date. No one is invited, and nobody outside your team is contacted.

How UMNIII Verify helps

UMNIII Verify screens one wallet address on the network you choose and returns an outcome, an overall risk level and a sanctions status. The result is kept in Wallet Checks, where your team can find it again and download the report.

Which Verify features help?

Wallet Screening

Screens the destination address on its network before you send, so the question “did anyone check this address?” has an answer and a date.
Establishes: The risk signals reported for one wallet address on one network on the day it was screened: an overall risk level, a sanctions status and any risk flags, with the date.
Does not establish: It does not establish who owns or controls the wallet, and it is a point-in-time result, not monitoring. A result is for your own risk assessment and is not an approval of any transfer.

Optional, added separately

• Identity verification: When you also need to verify the individual who will receive the funds.
• Business verification (KYB): When the recipient is a business.

Step 1: Open Wallet Checks

• In UMNIII Verify, open Wallet Checks from the menu. It lists every wallet your Workspace has screened, and it is where a new screening is requested.

Step 2: Enter the destination wallet

• Press the request button at the top of the page. Choose the network and paste the destination address. You can also record the asset you are sending.
• Choose Sending to as the direction. The asset and the direction are recorded with the screening and do not change its result.
• The address is checked against the format for the network you chose before anything is charged.

Step 3: Review the cost and request the screening

• The request shows what the screening costs and your balance before you confirm it. Press Request screening to confirm.
• You entered the wallet yourself, so no one is invited: there is no recipient and nothing for anyone else to complete.

Step 4: Read the result

• The result is Passed, Caution or Not passed, beside an overall risk level and a sanctions status, with the date and time it was screened.
• Caution is a completed result, not a check waiting for review. Not passed means the wallet does not meet the Wallet Screening policy; it does not say that anyone is criminal, sanctioned or fraudulent.
• If a screening could not be completed, retrying it is free, and a screening that cannot be performed is refunded.
• A wallet result describes the address, not the person or business involved. Where you also need to verify them, see the guides to wallet screening with individual verification and with business verification.

Step 5: Keep the report with the transaction

• Download the Wallet Screening Report from the result. Downloading is free, and each download is recorded.
• The report is dated and says it is a point-in-time result, not an approval of any transfer. If the transaction is made later, screen the address again.

Next step

Follow these steps in UMNIII Verify.

Related guides

• Screen the source wallet before accepting crypto

  Enter the address the funds will come from, read a dated result before you accept them, and keep the report with the transaction.

• Wallet screening with individual verification

  One request screens the wallet and verifies the individual: identity verification and AML screening sit beside the wallet result, and each keeps its own result.

• Digital asset counterparty verification: one party or two

  Verify one counterparty, or both parties, to a crypto transaction and screen each wallet, with consent, a choice of what you receive and separate results for every check.