# FATF R.16 — Payment transparency - **Part of:** [[FATF Recommendations]] Financial institutions must include required and accurate originator information and required beneficiary information on payments or value transfers and related messages, keep it with the transfer throughout the payment chain, monitor for transfers lacking it and take appropriate measures. When processing payments they must freeze and not deal with persons designated under UN Security Council resolutions on terrorism and proliferation. The interpretive note allows a de minimis threshold of no more than USD/EUR 1,000. ## Keyed AMLR articles _none_ ## Swiss counterparts - [[GwV-FINMA Art. 10 - Information in payment orders|GwV-FINMA Art. 10]] — Both require originator and beneficiary information on payment orders: GwV-FINMA Art. 10 requires the originator's name, account number and address and the beneficiary's name and account number, allows a reduced set for domestic payments (Abs. 2-3) and requires a risk-based procedure for incoming orders with incomplete information (Abs. 5). *(direct)* - [[GwV-FINMA Art. 37 - Correspondent banking with foreign banks|GwV-FINMA Art. 37]] — GwV-FINMA Art. 37 Abs. 4 makes the correspondent bank ensure that payment information it receives is complete and passed on, and regulate how it handles repeatedly incomplete orders. *(related)* ## Authoritative text > [!quote]- FATF Recommendation 16 — text of the Recommendation (FATF Recommendations, updated June 2026); interpretive note not reproduced > **16. Payment transparency** > Countries should ensure that financial institutions include required and accurate originator information, and required beneficiary information, on payments or value transfers and related messages. This information should be structured to the extent possible and should remain with such payment or value transfer or related message throughout the payment chain. > Countries should ensure that financial institutions monitor payments or value transfers for the purpose of detecting those which lack required originator and/or beneficiary information and take appropriate measures. > Countries should ensure that, in the context of processing payments or value transfers, financial institutions take freezing action and should prohibit conducting transactions with designated persons and entities, as per the obligations set out in the relevant United Nations Security Council resolutions, such as resolution 1267 (1999) and its successor resolutions, and resolution 1373(2001), relating to the prevention and suppression of terrorism and terrorist financing, and resolutions relating to the prevention, suppression and disruption of proliferation of weapons of mass destruction and its financing.