Proof of Funds

This policy outlines what is considered a valid source of funds for Crypto transactions, the documents required per type of source of funds and source of funds types that aren’t accepted.

General:

If there are large credits coming into the account, what’s the minimum size we’d need to obtain further documents (statement showing corresponding debit)
- Dependent on the client (what they indicated they want to trade with)
- Dependent on earnings
Large credits coming from crypto exchanges or with suspicious descriptions (such as ‘Loan’) should be queried further. What do we ask the customer for?
- Written explanation of how client acquired funds
A series of small credits which appear to be an attempt to obfuscate a large amount should also be queried.

General Requirements:

3 months account statements from the funding account
All bank statements should have an account number on
All bank statements should have the account holder’s name on it
All bank statements should have a date range

Savings

3 months account statements (standard savings account)
- If the client submits statements from an account that issues quarterly, a transaction history is required after 30 days
- For account statements issued monthly, the most recent statement is required
Require further information on larger credits (client dependent)
- Client must provide 3 month’s statements from the account where the transfer originated from

Investments and dividends from listed companies

Investment statement
- Most recent statement
- No proof of disinvestment is required unless the client also submits bank statements where the money from the disinvestment has already reflected

Investments (Retirement Annuity)