Beneficiary VASP, upon receipt of the encrypted private data can proceed to decrypt with their unique private key generated for this information transfer transaction and confirm the completeness of the originator’s information and the accuracy of the beneficiary customer’s information (i.e., the name and address of the beneficiary customer), since the Beneficiary VASP is expected to have already performed KYC on the beneficiary. Once the Beneficiary VASP confirm the accuracy of the beneficiary customer’s information and that all information required of the originator is complete, such confirmation will be notified from the Beneficiary VASP’s enclave server to the Originating VASP’s enclave server. This will assure the Originating VASP that the originator and beneficiary’s private data shared to the Beneficiary VASP is complete and that the Beneficiary VASP has verified that the beneficiary’s information shared to be accurate. This assurance by the Beneficiary VASP to the Originating VASP is not a requirement under FATF Travel Rule or MAS Value Transfer. However, VV is of the view that this simple confirmation from Beneficiary VASP can enhance the verification process and improve customer’s due diligence, knowing at least that the information exchange is complete and accurate.