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Unregistered VASP Condensed Flow

Create complete transactions to unknown or unregistered Virtual Asset Service Providers (VASPs) with automatic KYC screening and simplified workflow in a single API call.

Use Case​

Ideal for transactions where the beneficiary uses a VASP that is not registered in the system's VASP directory. The system automatically creates a placeholder VASP record and handles the simplified workflow.

Key Features​

  • Automatic VASP Creation: Creates placeholder VASP record
  • Website-Based Identification: Uses beneficiary VASP website URL
  • Simplified Workflow: Skips standard VASP communication protocols
  • Enhanced Risk Assessment: Additional screening for unknown entities
  • Compliance Maintained: Full regulatory compliance despite unknown VASP

Request​

Endpoint: POST https://api.trpcontinuum.com/trp/transactions/condensed

Headers:

Content-Type: application/json
Authorization: Bearer {your-token}

Request Body:

{
  "transaction": {
    "network": "bitcoin",
    "virtualAsset": "Bitcoin (BTC)",
    "amount": "75.00",
    "beneficiaryWalletAddress": "bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh",
    "originatorWalletAddress": "bc1qabc123def456ghi789jkl012mno345pqr678stu",
    "memo": "Payment to unregistered VASP"
  },
  "beneficiary": {
    "unregisteredVaspWebsite": "https://unknown-vasp.com",
    "beneficiaryIsLegalPerson": false,
    "beneficiaryFirstName": "Jane",
    "beneficiaryLastName": "Smith",
    "dateOfBirth": "1990-12-10",
    "placeOfBirth": "Seattle, WA",
    "beneficiaryIdNumber": "333444555",
    "beneficiaryIdType": "PASSPORT",
    "beneficiaryIdCountryOfIssue": "US",
    "buildingNumber": "321",
    "streetName": "Unknown Street",
    "townName": "Seattle",
    "postCode": "98101",
    "country": "US"
  },
  "originator": {
    "originatorIsLegalPerson": false,
    "originatorFirstName": "John",
    "originatorLastName": "Doe",
    "originatorDob": "1985-03-20",
    "originatorPlaceOfBirth": "Chicago, IL",
    "originatorIdNumber": "987654321",
    "originatorIdType": "PASSPORT",
    "originatorIdCountryOfIssue": "US",
    "originatorAddressLine1": "456 Oak Street",
    "originatorAddressLine2": "Apt 2C",
    "originatorCity": "San Francisco",
    "originatorState": "CA",
    "originatorPostalCode": "94102",
    "originatorCountry": "US"
  }
}

Response Examples​

Success (No KYC Matches)​

{
  "success": true,
  "data": {
    "id": "txn_unreg123",
    "status": "Waiting for TX Hash",
    "network": "bitcoin",
    "virtualAsset": "Bitcoin (BTC)",
    "amount": "75.00",
    "beneficiaryWalletAddress": "bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh",
    "originatorWalletAddress": "bc1qabc123def456ghi789jkl012mno345pqr678stu",
    "beneficiary": {
      "beneficiaryFirstName": "Jane",
      "beneficiaryLastName": "Smith",
      "unregisteredVaspWebsite": "https://unknown-vasp.com",
      "beneficiaryVaspName": "UNREGISTERED-VASP"
    },
    "originator": {
      "originatorFirstName": "John",
      "originatorLastName": "Doe"
    },
    "vaspInfo": {
      "isRegistered": false,
      "placeholderCreated": true,
      "website": "https://unknown-vasp.com",
      "riskAssessment": {
        "websiteValid": true,
        "domainAge": "unknown",
        "sslCertificate": true,
        "riskScore": 0.3
      }
    },
    "kycCheck": {
      "hasMatches": false,
      "totalMatches": 0,
      "beneficiaryChecked": true,
      "originatorChecked": true,
      "unregisteredVaspScreening": true,
      "screenedAt": "2024-08-07T10:00:00Z"
    },
    "workflowType": "unregistered_vasp",
    "autoSkippedSteps": [
      "send_to_beneficiary_vasp",
      "approve_originator",
      "payment_check"
    ],
    "createdAt": "2024-08-07T10:00:00Z",
    "updatedAt": "2024-08-07T10:00:00Z"
  }
}

Success (KYC Matches Found)​

{
  "success": true,
  "data": {
    "id": "txn_unreg456",
    "status": "KYC Beneficiary Pending Review",
    "network": "bitcoin",
    "virtualAsset": "Bitcoin (BTC)",
    "amount": "75.00",
    "vaspInfo": {
      "isRegistered": false,
      "placeholderCreated": true,
      "website": "https://suspicious-vasp.com",
      "riskAssessment": {
        "websiteValid": true,
        "domainAge": "30 days",
        "sslCertificate": false,
        "riskScore": 0.8,
        "riskFactors": ["new_domain", "no_ssl", "unknown_jurisdiction"]
      }
    },
    "kycCheck": {
      "hasMatches": true,
      "totalMatches": 2,
      "beneficiaryMatches": 1,
      "originatorMatches": 0,
      "vaspMatches": 1,
      "topMatch": {
        "score": 0.91,
        "name": "Jane Smith",
        "riskLevel": "high",
        "sources": ["sanctions"],
        "details": {
          "birthDate": "1990-12-10",
          "country": "US",
          "matchType": "name_dob_country",
          "vaspType": "unregistered"
        }
      },
      "matches": [
        {
          "score": 0.91,
          "name": "Jane Smith",
          "type": "beneficiary",
          "sources": ["sanctions"]
        },
        {
          "score": 0.75,
          "name": "suspicious-vasp.com",
          "type": "vasp",
          "sources": ["regulatory_warnings"]
        }
      ],
      "unregisteredVaspScreening": true,
      "enhancedScreening": {
        "vaspWebsiteAnalysis": true,
        "domainRiskScore": 0.8,
        "jurisdictionRisk": "unknown"
      },
      "screenedAt": "2024-08-07T10:00:00Z"
    },
    "workflowType": "unregistered_vasp",
    "createdAt": "2024-08-07T10:00:00Z",
    "updatedAt": "2024-08-07T10:00:00Z"
  }
}

Required Fields​

Transaction​

  • network - Blockchain network
  • virtualAsset - Asset name
  • amount - Transaction amount as string
  • beneficiaryWalletAddress - Recipient wallet address
  • originatorWalletAddress - Sender wallet address

Beneficiary (Unregistered VASP)​

  • unregisteredVaspWebsite - VASP website URL (must be valid HTTPS URL)
  • beneficiaryIsLegalPerson - true or false
  • Natural Person: beneficiaryFirstName, beneficiaryLastName, dateOfBirth
  • Legal Person: beneficiaryLegalName, dateOfIncorporation
  • country - Country code (ISO 3166-1 alpha-2)

Originator​

  • originatorIsLegalPerson - true or false
  • Natural Person: originatorFirstName, originatorLastName, originatorDob
  • Legal Person: originatorLegalName, originatorDateOfIncorporation
  • originatorCountry - Country code

Unregistered VASP Processing​

Automatic VASP Record Creation​

When unregisteredVaspWebsite is provided, the system:

  1. Creates Placeholder VASP: Temporary record with website information
  2. Validates Website: Checks URL accessibility and SSL certificate
  3. Risk Assessment: Analyzes domain age, jurisdiction, and other factors
  4. Sets VASP Name: Uses "UNREGISTERED-VASP" as identifier

Website Validation​

The system performs automatic validation:

  • URL Format: Must be valid HTTPS URL
  • Domain Accessibility: Website must be reachable
  • SSL Certificate: Checks for valid certificate
  • Content Analysis: Basic website legitimacy checks

Risk Scoring Factors​

Unregistered VASPs receive enhanced risk scoring based on:

  • Domain Age: Newer domains higher risk
  • SSL Certificate: Missing certificates increase risk
  • Jurisdiction: Unknown/high-risk jurisdictions
  • Website Content: Professional appearance and crypto-related content
  • Regulatory Warnings: Known issues or warnings

Workflow Automation​

Automatic Skip Steps​

For unregistered VASPs, the system automatically skips:

  1. Send to Beneficiary VASP: No API endpoints available
  2. Approve Originator: No VASP to perform approval
  3. Payment Check: No VASP payment verification
  4. Direct to TX Hash: Ready for blockchain execution

Status Progression (No KYC Matches)​

  1. Waiting for TX Hash - Ready for blockchain transaction
  2. Submit TX hash via /tx-hash-submit endpoint
  3. Tx Hash Sent Successfully - Transaction complete

Status Progression (With KYC Matches)​

  1. KYC Beneficiary Pending Review - Manual review required
  2. After KYC approval → Waiting for TX Hash
  3. Submit TX hash → Tx Hash Sent Successfully

Enhanced KYC Screening​

Additional Screening Elements​

Unregistered VASP transactions receive enhanced screening:

  • VASP Website Analysis: Domain reputation and content analysis
  • Jurisdiction Assessment: Geographic risk evaluation
  • Regulatory Database Checks: Known warnings or enforcement actions
  • Enhanced Entity Screening: Stricter matching thresholds
  • Transaction Pattern Analysis: Historical patterns with unknown VASPs

VASP-Specific Risks​

Higher scrutiny for:

  • Newly registered domains (< 6 months)
  • Missing SSL certificates
  • Anonymous domain registration
  • High-risk jurisdictions
  • Previous regulatory warnings
  • Suspicious website content or functionality

Code Examples​

JavaScript/Node.js​

const axios = require('axios');
const URL = require('url');

async function createUnregisteredVaspTransaction() {
  // Validate VASP website URL first
  const vaspWebsite = "https://unknown-crypto-exchange.com";
  
  if (!isValidVaspWebsite(vaspWebsite)) {
    throw new Error("Invalid VASP website URL");
  }

  try {
    const response = await axios.post('https://api.trpcontinuum.com/trp/transactions/condensed', {
      transaction: {
        network: "ethereum",
        virtualAsset: "Ethereum (ETH)",
        amount: "100.0",
        beneficiaryWalletAddress: "0x742C4B4f7c1e1e1e1e1e1e1e1e1e1e1e1e1e1e1e",
        originatorWalletAddress: "0x123abc456def789ghi012jkl345mno678pqr901stu",
        memo: "Payment to unknown exchange"
      },
      beneficiary: {
        unregisteredVaspWebsite: vaspWebsite,
        beneficiaryIsLegalPerson: false,
        beneficiaryFirstName: "Sarah",
        beneficiaryLastName: "Connor",
        dateOfBirth: "1985-05-12",
        country: "US",
        beneficiaryIdNumber: "555123789",
        beneficiaryIdType: "DRIVERS_LICENSE"
      },
      originator: {
        originatorIsLegalPerson: false,
        originatorFirstName: "Kyle",
        originatorLastName: "Reese",
        originatorDob: "1980-08-15",
        originatorCountry: "US"
      }
    }, {
      headers: {
        'Authorization': `Bearer ${token}`,
        'Content-Type': 'application/json'
      }
    });

    if (response.data.success) {
      const transaction = response.data.data;
      
      console.log(`Unregistered VASP transaction created: ${transaction.id}`);
      console.log(`VASP Website: ${transaction.vaspInfo.website}`);
      console.log(`VASP Risk Score: ${transaction.vaspInfo.riskAssessment.riskScore}`);
      
      if (transaction.kycCheck.hasMatches) {
        console.log(`⚠️  Enhanced review required`);
        console.log(`Found ${transaction.kycCheck.totalMatches} matches including VASP risks`);
        
        // Log specific risk factors
        if (transaction.vaspInfo.riskAssessment.riskFactors) {
          console.log(`Risk factors: ${transaction.vaspInfo.riskAssessment.riskFactors.join(', ')}`);
        }
        
        // Handle enhanced compliance review
        await handleEnhancedComplianceReview(transaction.id);
      } else {
        console.log(`✅ Ready for execution (${transaction.status})`);
        console.log(`Auto-skipped: ${transaction.autoSkippedSteps.join(', ')}`);
        
        // Proceed to blockchain execution
        await executeTransactionToUnregisteredVasp(transaction);
      }
    }
  } catch (error) {
    console.error('Unregistered VASP transaction failed:', error.response?.data);
  }
}

function isValidVaspWebsite(url) {
  try {
    const parsedUrl = new URL(url);
    return parsedUrl.protocol === 'https:' && parsedUrl.hostname;
  } catch (e) {
    return false;
  }
}

async function handleEnhancedComplianceReview(transactionId) {
  // Implementation for enhanced compliance review
  console.log(`Initiating enhanced compliance review for transaction ${transactionId}`);
  
  // Could trigger additional checks:
  // - Manual VASP website review
  // - Enhanced background checks
  // - Senior compliance officer approval
}

async function executeTransactionToUnregisteredVasp(transaction) {
  console.log(`Executing blockchain transaction for unregistered VASP`);
  console.log(`Amount: ${transaction.amount} ${transaction.virtualAsset}`);
  console.log(`Destination: ${transaction.beneficiaryWalletAddress}`);
  
  // Execute blockchain transaction
  const txHash = await broadcastTransaction(transaction);
  
  // Submit transaction hash
  await submitTransactionHash(transaction.id, txHash);
}

Python​

import requests
import validators
from urllib.parse import urlparse

def create_unregistered_vasp_transaction():
    vasp_website = "https://unknown-crypto-exchange.com"
    
    # Validate VASP website
    if not is_valid_vasp_website(vasp_website):
        raise ValueError("Invalid VASP website URL")
    
    payload = {
        "transaction": {
            "network": "ethereum",
            "virtualAsset": "Ethereum (ETH)",
            "amount": "100.0",
            "beneficiaryWalletAddress": "0x742C4B4f7c1e1e1e1e1e1e1e1e1e1e1e1e1e1e1e",
            "originatorWalletAddress": "0x123abc456def789ghi012jkl345mno678pqr901stu",
            "memo": "Payment to unknown exchange"
        },
        "beneficiary": {
            "unregisteredVaspWebsite": vasp_website,
            "beneficiaryIsLegalPerson": False,
            "beneficiaryFirstName": "Sarah",
            "beneficiaryLastName": "Connor",
            "dateOfBirth": "1985-05-12",
            "country": "US",
            "beneficiaryIdNumber": "555123789",
            "beneficiaryIdType": "DRIVERS_LICENSE"
        },
        "originator": {
            "originatorIsLegalPerson": False,
            "originatorFirstName": "Kyle",
            "originatorLastName": "Reese",
            "originatorDob": "1980-08-15",
            "originatorCountry": "US"
        }
    }
    
    response = requests.post(
        'https://api.trpcontinuum.com/trp/transactions/condensed',
        json=payload,
        headers={
            'Authorization': f'Bearer {token}',
            'Content-Type': 'application/json'
        }
    )
    
    if response.status_code == 200:
        data = response.json()
        if data['success']:
            transaction = data['data']
            
            print(f"Unregistered VASP transaction: {transaction['id']}")
            print(f"VASP Website: {transaction['vaspInfo']['website']}")
            print(f"Risk Assessment: {transaction['vaspInfo']['riskAssessment']}")
            
            if transaction['kycCheck']['hasMatches']:
                print("🚨 Enhanced compliance review required")
                handle_enhanced_review(transaction)
            else:
                print("✅ Approved for execution")
                execute_transaction(transaction)
        else:
            print(f"Transaction failed: {data.get('message', 'Unknown error')}")
    else:
        print(f"HTTP Error: {response.status_code} - {response.text}")

def is_valid_vasp_website(url):
    """Validate VASP website URL format"""
    if not validators.url(url):
        return False
    
    parsed = urlparse(url)
    return parsed.scheme == 'https' and parsed.netloc

def handle_enhanced_review(transaction):
    """Handle enhanced compliance review for unregistered VASP"""
    print("Initiating enhanced review process...")
    
    # Check risk factors
    risk_factors = transaction['vaspInfo']['riskAssessment'].get('riskFactors', [])
    print(f"Risk factors identified: {', '.join(risk_factors)}")
    
    # Could trigger:
    # - Manual VASP verification
    # - Enhanced background checks  
    # - Senior approval requirements
    
def execute_transaction(transaction):
    """Execute blockchain transaction for unregistered VASP"""
    print(f"Executing transaction to unregistered VASP")
    print(f"Workflow type: {transaction['workflowType']}")
    print(f"Skipped steps: {', '.join(transaction['autoSkippedSteps'])}")
    
    # Blockchain execution would happen here
    # tx_hash = broadcast_to_blockchain(transaction)
    # submit_tx_hash(transaction['id'], tx_hash)

Compliance Considerations​

Enhanced Due Diligence​

Unregistered VASP transactions typically require:

  • Manual VASP Verification: Research and validation of unknown entity
  • Website Content Review: Analysis of VASP website and services
  • Jurisdiction Assessment: Geographic and regulatory risk evaluation
  • Enhanced Background Checks: Deeper investigation of beneficiary/VASP relationship
  • Senior Approval: Higher-level compliance sign-off

Regulatory Reporting​

Special considerations for unregistered VASPs:

  • Suspicious Activity Monitoring: Enhanced transaction monitoring
  • Regulatory Notifications: May require special reporting to authorities
  • Record Keeping: Additional documentation and justification required
  • Ongoing Monitoring: Continued surveillance of unregistered entities

Risk Mitigation​

Strategies for managing unregistered VASP risks:

  • Transaction Limits: Lower limits for unknown entities
  • Enhanced Screening: Stricter KYC and sanctions screening
  • Regular Reviews: Periodic reassessment of unregistered VASPs
  • Relationship Monitoring: Tracking ongoing interactions

Common Errors​

Invalid Website URL​

{
  "success": false,
  "error": "INVALID_VASP_WEBSITE",
  "message": "Unregistered VASP website URL is invalid or unreachable",
  "details": {
    "website": "http://invalid-site",
    "issues": ["not_https", "unreachable"],
    "requirement": "Must be valid HTTPS URL to accessible website"
  }
}

High-Risk VASP Rejected​

{
  "success": false,
  "error": "HIGH_RISK_VASP_REJECTED",
  "message": "Unregistered VASP deemed too high risk",
  "details": {
    "website": "https://suspicious-exchange.com",
    "riskScore": 0.95,
    "riskFactors": ["new_domain", "no_ssl", "regulatory_warnings"],
    "action": "Manual review required before proceeding"
  }
}

Testing​

Test Unregistered VASPs​

Low Risk:

{
  "unregisteredVaspWebsite": "https://test-exchange.com",
  "beneficiaryFirstName": "Test",
  "beneficiaryLastName": "User"
}

High Risk (Will Trigger Review):

{
  "unregisteredVaspWebsite": "https://new-suspicious-exchange.com",
  "beneficiaryFirstName": "High",
  "beneficiaryLastName": "Risk"
}

Website Testing​

Valid test URLs for different scenarios:

  • Standard: https://example-exchange.com
  • New Domain: https://brand-new-crypto-site.com
  • No SSL: Use HTTP URLs (will be flagged as high risk)