In a funds transfer, which description best defines the Beneficiary?

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Multiple Choice

In a funds transfer, which description best defines the Beneficiary?

In a funds transfer, the beneficiary is the person or entity that will receive the money. It identifies who ultimately benefits from the transfer. The one who initiates the transfer is the originator or payer, not the recipient. The other options describe roles or actions unrelated to who actually receives the funds: a government official requesting records refers to access to information, and data kept for investigations relates to record-keeping rather than the recipient. For example, if you send funds to a supplier, the supplier is the beneficiary.

In a funds transfer, the beneficiary is the person or entity that will receive the money. It identifies who ultimately benefits from the transfer. The one who initiates the transfer is the originator or payer, not the recipient. The other options describe roles or actions unrelated to who actually receives the funds: a government official requesting records refers to access to information, and data kept for investigations relates to record-keeping rather than the recipient. For example, if you send funds to a supplier, the supplier is the beneficiary.

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