# Economic Purpose

An **economic purpose** is the original reason for your incoming or outgoing payment:

* What product or service did the sender buy from you?
* What product or service did you buy from the beneficiary?

As a [licensed financial institution](https://europacbank.com/legal/), we are required to know the **economic purposes** of the payments and/or attain any **supporting documentation** verifying these purposes, in order to comply with international anti-money laundering (AML) regulations.

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A vague or incomplete description of your payment may result in delay or cancellation.
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