We are occasionally required to collect and verify additional information and documents from our customers to comply with customer due diligence and anti-money laundering laws and regulations. Proving the “Source of Funds” is the key aspect of this process.
Proof of Source of Funds should be a document that displays from where the funds used to fund your Crypto.com account have originated. In cases of large Crypto deposits, we require proof and explanations of how and when the Crypto assets were obtained.
Provided documentation should comply with the following requirements:
Must be in one of the following formats - .pdf, .png, .jpg, .jpeg
Should be visible in full, with all four corners captured (in case it’s a photo/scan)
Your name, date of the statement, and dates of transactions should be clearly visible
All transaction details should be clear and legible
While you may cover sensitive information*, we need to clearly see the inbound transactions (your income) as well as the outbound transactions (your deposits to Crypto.com)
Bank statements/payslips / other documents must be relevant to the time period in question and should also reflect your most recent balances
Some examples of possible sources of funds and acceptable proof for each:
Salary: you would provide a recent payslip from your employer (and/or a tax statement) AND a bank statement showing your recent account balances. Your name, date, and amounts should be clearly visible.
Sale of property: you would provide a copy of a contract of sale (or a copy of a land registry, a title deed, or a letter from a real estate agent or a lawyer confirming the sale of a property) AND a bank statement that displays the proceeds of the sale being deposited. Your name should be clearly visible on both documents along with amounts and dates.
Savings: you would provide a bank statement reflecting that the savings are more than or equal to the amount being invested. The statement period should cover at least three months. Your name, dates, and amounts should be clearly visible.
Loan: you would provide the loan agreement AND a bank statement that displays the loan being deposited. Your name should be clearly visible on the documents along with amounts and dates.
Inheritance: you would provide a copy of a testament (or a letter from the executor of the will or lawyer) AND a bank statement that displays the proceeds of the sale being deposited. Your name should be clearly visible on all documents along with amounts and dates.
Gift or donation: you would provide an affidavit/letter from the donor explaining the nature of the gift along AND a bank statement reflecting the deposit is acceptable. Your name should be clearly visible on all documents along with amounts and dates.
Pension fund: you would provide details on the pension fund (along with a fund statement, if available) AND a bank statement that displays the pension being deposited. Your name should be clearly visible on the documents along with amounts and dates.
Tax refund: You would provide a copy of the tax return that reflects the tax refund (should be no older than 12 months) AND a bank statement that displays the funds being deposited to your account. Your name should be clearly visible on the documents along with amounts and dates.
Other: you would provide other official documentation evidencing the source of wealth and funds. Your name should be clearly visible on the documents along with amounts and dates. The amounts in question should support your financial activity with Crypto.com.
*It is acceptable to cover some sensitive information, for example - social security number, credit card number, or similar.
Please be advised that in order to verify the legitimacy of each document it must be as lightly redacted as possible, i.e. in the case of bank statements, we need to clearly see all of the inbound and outbound transactions.
If you prefer to provide your Source of Funds information by other means, we offer the option for you to do so via a “secure upload”. If you choose this option, you may provide your answers in a separate file and upload it along with your proof of Source of Funds to the secure link. Please respond to our message requesting the link and we will be happy to provide it.
We are an ISO/IEC 27001:2013 certified company, and we maintain the top information security standards. You may read more here: https://crypto.com/en/security.html
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As a seasoned professional in the field of compliance, financial regulations, and anti-money laundering (AML) practices, my extensive expertise allows me to delve into the intricacies of the provided article with precision and authority.
To begin, the article emphasizes the necessity for collecting and verifying additional information and documents from customers to adhere to customer due diligence and anti-money laundering laws and regulations. This process is crucial in maintaining the integrity of financial platforms, such as Crypto.com, and preventing illicit financial activities.
The key aspect highlighted in the article is the importance of proving the "Source of Funds." This involves providing documentation that clearly displays the origin of the funds used to fund a Crypto.com account. Notably, in cases of large Crypto deposits, there is a requirement for proof and explanations detailing how and when the Crypto assets were obtained.
The article outlines specific requirements for the documentation provided:
- Format: Documents must be in one of the following formats - .pdf, .png, .jpg, .jpeg.
- Visibility: Documents should be visible in full, with all four corners captured in case of a photo/scan.
- Clarity: Name, date of the statement, and dates of transactions should be clearly visible.
- Legibility: All transaction details should be clear and legible.
- Relevance: Provided documentation must be relevant to the time period in question and reflect the most recent balances.
Following these general requirements, the article provides examples of possible sources of funds and the acceptable proof for each. These include:
- Salary: Recent payslip from the employer, tax statement, and a bank statement showing recent account balances.
- Sale of Property: Copy of a contract of sale, land registry, title deed, or a letter from a real estate agent or lawyer, along with a bank statement displaying the proceeds.
- Savings: Bank statement reflecting savings equal to or more than the investment amount, covering at least three months.
- Loan: Loan agreement and a bank statement displaying the loan being deposited.
- Inheritance: Copy of a testament or a letter from the executor of the will or lawyer, along with a bank statement displaying the proceeds.
- Gift or Donation: Affidavit/letter from the donor explaining the nature of the gift and a bank statement reflecting the deposit.
- Pension Fund: Details on the pension fund, along with a fund statement if available, and a bank statement displaying the pension being deposited.
- Tax Refund: Copy of the tax return reflecting the tax refund (no older than 12 months) and a bank statement displaying the funds being deposited.
- Other: Other official documentation evidencing the source of wealth and funds.
It is emphasized that while some sensitive information can be covered, the legitimacy of each document must be verifiable. The article also mentions the option for customers to provide Source of Funds information via a "secure upload."
Importantly, Crypto.com positions itself as an ISO/IEC 27001:2013 certified company, maintaining top information security standards, which can be further explored on their security page: .
In conclusion, the article provides comprehensive guidance on the documentation required for proving the Source of Funds, aligning with the stringent regulatory standards in the financial industry.
