7. Oscar is based in United States and he would like to make a payment transfer to his friends in Singapore. Thus, he has approached his banker in Wells Fargo, USA. He has provided the following information to his banker as follows: Beneficiary Name : Christopher Roland Beneficiary Bank : DBS Bank, Singapore Amount : USD 10,000 Purpose of transaction: Gift Upon further checking, his banker found out that DBS Bank doesnt maintain any Nostro or Vostro account with Wells Fargo.

a. Under such circumstances, how should Wells Fargo transfer the funds to DBS?

b. Draw the potential payment flow of this transaction.

c. What are the potential risks to Wells Fargo for facilitating international funds transfer?