What is Enhanced Due Diligence (EDD) and why is it required?
As part of our commitment to regulatory compliance, security, and financial integrity, we are required toconduct an Enhanced Due Diligence (EDD) process for certain client profiles or transactions. This includesconfirming your total net wealth and verifying your primary source of funds.
This process ensures that all funds moving through our platform originate from legitimate and verifiedactivities. Please review this guide to understand exactly what information and supporting documentation youwill need to provide depending on your primary source of funds.
1. General Requirements
Before proceeding with your specific source of funds selection, all clients must provide:
- Declaration of Total Net Wealth: You will be asked to estimate your overall net wealth (the total value of yourassets minus any liabilities).
- Selection of Primary Source of Funds: While this may be pre-selected based on your initial Customer DueDiligence (CDD) profile, you have the option to change it if your financial profile has evolved.
2. Requirements by Source of Funds
Depending on your chosen primary source of funds, you will be prompted to complete specific details and uploadverification documents. Find your source of funds below:
Salary Income
Required Details to Provide:
- Employer’s Name and Website URL
- Industry in which your employer operates
- Country of employment
- Your specific Role/Job Title
- Number of years in this employment
Required Documents (Upload one of the following):
- Copies of payslips for the last 3 months;
- ORA recent bank statement covering a period of 3 months showing clear receipt of your salary;
- ORA copy of your latest tax return.
Fixed Deposit – Savings
Required Details to Provide:
- A written explanation detailing exactly how these savings were generated over time.
Required Documents:
- A copy of your bank statement covering the last 6 months, illustrating how the saved funds wereaccumulated over time.
Important Note: Simply displaying a lump sum of savings in an account balance is not sufficient. We requireevidence showing the origin and accumulation of those savings.
Loan
Required Details to Provide:
- Total loan amount (in EUR)
- Loan issue date
- Detailed purpose of the loan
- Lender’s full name and their jurisdiction (country)
Required Documents:
- A copy of the fully executed loan agreement.
Gift
Required Details to Provide:
- Full name of the donor and your relationship to them
- Purpose of the gift and the date it was received
- Total gift amount (in EUR)
Required Documents:
- Bank statement confirming receipt of the gift in your account; AND
- Confirmation/evidence of the source of the donor’s wealth; AND
- Certified identification documents of the donor.
Inheritance
Required Details to Provide:
- Estimated value of inheritance (in EUR)
- Date the inheritance was received
Required Documents:
- A copy of the deceased's will; AND
- Bank statement(s) showing the receipt of the inherited funds.
Pension
Required Details to Provide:
- A brief description of your retirement income.
Required Documents:
- A copy of the bank statement(s) showing receipt of the pension income.
Sale of Property
Required Details to Provide:
- Property details (address/type) and jurisdiction (country)
- Date of sale and final sale value (in EUR)
Required Documents:Required Documents:
- A copy of the notarised sale contract; AND
- Bank statement confirming the receipt of the proceeds from the sale.
Rental Income
Required Details to Provide:
- Type of property being rented out
- Monthly rental value (in EUR)
Required Documents:
- A copy of the signed rental agreement; AND
- Recent 3 months of bank statements showing regular receipt of the rental payments.
Income from Investments
Required Details to Provide:
- Type of investment and investment jurisdiction
- Source of the initial funds used for the investment
Required Documents (Please upload):
- Evidence of income or dividends derived from the investments; AND
- A copy of your current portfolio statement detailing the investments, OR a bank statement showingincoming funds related to this investment income for the past 6 months.
Sale of a Company
Required Details to Provide:
- Company name, jurisdiction, and industry/business typeDate of sale and total sale price (in EUR)
- Percentage of the business you owned
Required Documents:
- A copy of the contract of sale or a formal letter detailing the company sale signed by a licensed solicitor orregulated accountant; AND
- Bank statement showing receipt of the sale proceeds.
Company Profits / Distributed Dividend
Required Details to Provide:
- Company name, jurisdiction, and industry/business type
- Specific details regarding the profit/dividend distribution
Required Documents:
- A formal dividend distribution certificate OR financial statements indicating dividend payouts; AND
- Bank statement clearly showing the receipt and origin of the dividends.
Crypto Investments
Required Details to Provide:
- Type of investment/assets traded
- Source of the initial investment capital used to purchase crypto
Required Documents:
- Trading history and P&L (Profit & Loss) statements from the relevant exchange(s) or platform(s).
Crypto Mining
Required Details to Provide:
- Comprehensive details of your mining activity (e.g., setups, coins mined)
Required Documents:
- A digital ledger indicating the amount of cryptocurrency mined; AND
- Payout wallet addresses; AND
- Purchase receipts for your mining hardware/equipment.
Gambling / Gaming Winnings
Required Details to Provide:
- Total amount of winnings (in EUR)
- Cash out date
Required Documents:
- An official receipt/statement of winnings from the gaming operator; AND
- Documentation (such as a bank statement) showing the origin of the funds which were initially depositedinto the gaming account.
Other Sources
Required Details to Provide:
- Detailed explanation of the alternative source of funds.
Required Documents:
- Any relevant supporting evidence that unequivocally proves the source and legitimacy of the funds.
3. Virtual Financial Assets (VFA) Suitability
Suitability & Trading Profile Assessment
To comply with VFA regulations and ensure your investment security, we are also required to assess yourunderstanding and experience with digital assets. You will be asked to complete a brief suitabilityquestionnaire covering:
- Your level of familiarity with different Virtual Financial Assets (VFAs).
- The approximate total value and transaction volume of VFAs you have traded in the last 12 months.
- The total number of years you have actively traded in the VFA market.
- A description of your professional experience, specifically regarding VFA/cryptocurrency trading orindustry involvement.
- Whether you have completed any relevant courses or certifications in blockchain or cryptocurrency.
4. Frequently Asked Questions (FAQ)
Q: Why do I have to provide evidence for where my savings came from?
A: Simply showing an account balance is not enough to satisfy regulatory standards. We are legally required toverify the origin n of those funds. This means we need to understand how you earned or acquired that wealth in thefirst place (e.g., through long-term savings from salary, inheritance, a property sale, etc.) and see the bankstatements showing that accumulation.
Q: I was pre-selected for a specific source of funds. Can I change it?
A: Yes. While your primary source of funds may be pre-selected based on the information provided during the initialCustomer Due Diligence (CDD) stage, you can modify it during this EDD stage if your circumstances have changedor if another source better reflects your main funding origin.
Q: How secure is my financial data?
A: Your privacy and security are our highest priorities. All uploaded financial documents and personal details areencrypted, stored securely, and processed in strict compliance with current data protection regulations (GDPR) andinstitutional security standards. They are used solely for identity and regulatory verification purposes.
Q: What happens if I fail to provide these documents?
A: Enhanced Due Diligence is a mandatory regulatory requirement. Failure to provide the requested details orsupporting documentation within the specified timeframe may result in restrictions being placed on your account,including a suspension of transaction abilities or account termination.
