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When it comes to funds transfers, banks often must depend on other financial institutions to help them fulfill their recordkeeping objectives. Many of these objectives are simply good business practices while others are required under U.S. regulations. For example, the U.S. Treasury Department's so-called travel rule requires sender financial institutions to include certain identifying information with wire transmittals of $3,000 or more. Receiving banks are not obligated to go back and obtain data missing from wire transfer documentation, but when a bank receives inadequate identification information, its customer due diligence efforts can be severely compromised. "It irks me when I...