WHAT IS A SOURCE OF FUNDS CHECK?
A source of funds check allows us to confirm that funds used to purchase Gold Coins on our platform come from a legitimate source and as such allows us to tell clean money from dirty money.
In practice, a source of funds check is a request from us asking you to provide some form of proof that your cash comes from a legitimate source such as from your salary, profits earned from your business, a loan from the bank and so on. As long as it has been legitimately obtained, we don’t care where the money comes from...
WHY IS A SOURCE OF FUNDS CHECK REQUIRED?
We are required by law to ensure that our platforms are not used for financial crime such as fraud, money laundering or the funding of terrorism. To stop financial crime, we must detect potential financial crime and prevent it from occurring. To do this we use various systems and processes, including some that are automated. Our systems and processes are always overseen by our financial crime specialists in our compliance team.
In many cases, our compliance team is required to carry out source of funds checks on customers who have done nothing wrong. This is a standard check they are required to carry out in accordance with the laws and regulations to which we are subject. Your patience and cooperation is appreciated here and will ensure we can continue to bring you a fun and safe entertainment platform.
WHEN IS A SOURCE OF FUNDS CHECK REQUIRED?
Our compliance team uses automated and semi-automated systems to continually monitor when a source of funds check is required. The precise timing depends on various factors which we cannot disclose and will vary from customer to customer. We will send you a notification when a source of funds check is required. Until we send you a notification, there is nothing for you to do.
HOW IS A SOURCE OF FUNDS CHECK CARRIED OUT?
When we notify you that a source of funds check is required, we will include a questionnaire that contains a list of acceptable types of official documents that can be used to evidence your source of funds depending on the generic categories of how your overall wealth is generated (i.e. your sources of income). This could be a copy of your recent payslips, documents showing the sale of personal assets (e.g. car or house) or a loan agreement. Ultimately, the document or documents you provide just need to be official documents that clearly show the origin of your funds used to purchase on our platform. The evidence should show an amount which is at least equal to the amount you have purchased on our platform.
Once received, our compliance team will determine whether the documents submitted are sufficient. We will follow up with you if we require anything further. If you hear nothing from us, you can assume everything was fine.
If you have any questions about what type of documents you need to submit, our customer service teams are here to help.
WHAT TYPE OF DOCUMENTS DO YOU REQUIRE IN A SOURCE OF FUNDS CHECK?
The type of documents required depends on how you have come to acquire your overall wealth in the first place. This is all clearly set out in our questionnaire by categories of income. Please make sure your name, the date of the document and the information relating to the funds is clearly visible in the documents you provide. We will need to see documents that evidence you have sufficient legitimate funds to cover the amount of purchases made on our platform.
HOW MANY TIMES DO I HAVE TO CONFIRM MY SOURCE OF FUNDS?
This is determined on a case by case basis. It is possible, however, that we will need to request a source of funds check from you more than once. We will only do this where it is absolutely necessary to comply with our legal obligations and will not ask you for information we already hold about you.
CAN I REFUSE TO RESPOND TO A SOURCE OF FUNDS CHECK?
It is your right to refuse to respond to a source of funds check, however, we may need to close your account with us as a result.
By accepting our Terms & Conditions you have agreed to supply all necessary information about your source of funds. We remind you that providing false or misleading information is a breach of our Terms & Conditions and may result in our decision to close or suspend your account or take any other action we deem necessary.