What is source of wealth/funds and why have I been asked to provide it?

Under Anti-Money Laundering regulation for customers from some countries, we are required to collect the source of your wealth/funds that you will be using to purchase gems.

Under Anti-Money Laundering regulation for customers  from some countries we are required to collect the source of your wealth/funds that you will be using to purchase gems. We need to establish this to ensure the legitimacy of the wealth held/income received by these customers i.e. that is not the product of criminal activity. 

Please note the following:

  • When requested to provide a description of the documents, provide as much information as possible in English of the documents and why it is your source of funds/income.  If your source of wealth/income is income from a job /company, please ensure you describe the job and the company you work for. 
  • If your source of wealth/income is income from a job /company, you need to provide a document which evidences the income from the job e.g. pay slip, bank statement showing your pay, employment contract.
  •  If your document is a bank statement please ensure the deposits showing your income are highlighted (the deposits must be referenced as ‘wages’ or ‘salary’). 
  • If you are a student you still need to show where your income/financial support comes from eg. if your income/support is provided by your family you will need to provide a document showing your parents' source of wealth/funds and a document that show your parent's providing you with the financial support.
  • If you do not currently have a job, you still need to provide document showing where your funds come from (eg. document showing income from previous job)
  • If you trade crypto to generate your income, then you need to provide evidence of sufficient transactions/trades to show that this could be your source of income. One transaction is not sufficient.
Examples of source of wealth/funds that you can provide
    • Employment:
      • Wages/salary
      • Employment contract
      • Copy of pay slips from the last three months;
      • Bank statements showing the last three incoming payments which must be referenced as ‘wages’ or ‘salary’
    • Investments income:
      • Investment / savings certificates, contract notes, surrender statements
      • Bank statement clearly showing receipt of funds and investment company name
      • Letter detailing funds from an accountant/solicitor
    • Business proceeds:
      • Revenue from the operation of a business
      • Latest audited company accounts
      • Letter from solicitor/accountant confirming revenue/income
    • Disposal of business or assets
      • Contract of sale for the business/assets
      • Written confirmation of sale by solicitor/accountant
    • Inheritance:
      • Grant of probate which must show value of the estate
      • Letter from solicitor/accountant
    • Gift:
      • Donor’s source of wealth (evidenced as per the evidence requirements in this list) along with a letter from the donor confirming details of the gift
      • Letter from solicitor confirming the origin of the gift and donor’s source of wealth.
    • Property sale:
      • Revenue from a property sale
      • Sale contract
      • Letter from solicitor/accountant
    • Superannuation lump sum / annuity or retirement plan payments:
      • Copy of closing statement
      • Letter confirming collection

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