Wire stripping

Removing or altering originator, beneficiary or reference information from a payment message so that screening at an intermediary bank does not identify a restricted party.

also known as: payment stripping, message stripping
reviewed: 2026-08-20

Payment messages carry structured fields identifying the parties. Screening systems read those fields. Stripping them, or replacing a name with a generic reference, defeats the screening without changing the payment.

It is among the most heavily penalised sanctions violations on record, because it is unambiguous: the alteration is deliberate, it is documented in the message itself, and comparing the message a bank sent with the instruction it received demonstrates it. Its historical prevalence is the reason payment transparency standards were tightened.

Where this term is used

How is correspondent banking used to evade sanctions? — Using a chain of banks that each know only their own customer, so that a payment for a restricted party reaches a currency it could not access directly, without any bank in the chain seeing the whole transaction.
What are third-country bank accounts and how are they used? — Holding accounts in a jurisdiction unconnected to the restricted party, the goods or the contract, so that payments reach and leave the restricted economy without ever appearing to touch it.

Related terms

SWIFT — A member-owned cooperative operating the messaging network banks use to exchange standardised payment and securities instructions internationally.
Correspondent banking — An arrangement in which one bank holds an account for another and provides payment and other services on its behalf, usually to give it access to a foreign currency.
Screening — Automated comparison of names, identifiers and other transaction data against sanctions lists and internal watchlists, at onboarding and on each payment.

Sources

Civil Penalties and Enforcement Information. U.S. Department of the Treasury, Office of Foreign Assets Control, 2026.
Correspondent banking principles and guidance. The Wolfsberg Group, 2022.

All glossary terms