Enhanced Due Diligence: what is needed and how to pass it

At times, we may ask you for additional documents in order to review a transaction or your Wallet account. Such requests come in your chat with Wallet (@wallet). If you get one, it means you need to pass an Enhanced Due Diligence review.

Enhanced Due Diligence (EDD) is an additional step where we ask users to fill out a questionnaire and provide some documents, to know the customer better. EDD reviews are necessary to ensure in-depth risk assessments and compliance with Anti-Money Laundering / Counter-Terrorist Financing requirements.

Once submitted, it takes about 24 hours to review all the information and documents. Some Wallet features may be limited in your account during the review process. Once the review is completed, we will send you a notification with the results.

Read next to learn about the purpose of each request and the documents required.

• How often do I need to confirm my source of funds or wealth

1. Source of Funds (SoF)

2. Destination of Funds (DoF)

3. Source of Wealth (SoW)

4. Form to Confirm Media Status

5. Center of Vital Interests (CVI)

• Full list of supporting documents

How often do I need to confirm my source of funds or wealth

Since every Wallet address and every transaction are unique, we calculate the risk level for each transaction on the blockchain on a case-by-case basis. Depending on the risk level, we may ask for additional information to make sure that your source of funds or wealth is a trustworthy one. This procedure may occur frequently if Wallet needs to confirm information on a regular basis.

If you receive the corresponding notification in @wallet chat, it means you must provide the necessary information.

Source of Funds (SoF)

Source of Funds, or SoF, is the origin of the cryptocurrency that you receive to your Wallet. Simply put, SoF shows how you obtained your crypto assets, or where they came from.

Wallet collects this data for the purpose of additional risk assessment of its users. By providing such information, you help us enhance the safety of our project.

What documents can confirm my source of funds

Here are some basic documents that can confirm your source of funds:

• Service agreement
• Screenshot of correspondence showing crypto payment arrangements
• Screenshot from the sender exchange, where the sender and receiver addresses are visible (in case you send funds to yourself from another wallet or service).

For particular source cases, see the extended document list here.

One document is typically enough to pass the enhanced due diligence review; that said, we recommend that you upload as many supporting documents as possible, to speed up the process. The document should fully reflect the origin of your funds. If it does not reflect all the details, include additional documents that can be used to provide all the necessary information.

How can I confirm the receipt of funds from another person if I am not willing to share my personal chat history?

Rest assured: your data is securely stored and only used for specific purposes outlined in our Privacy Policy.

Requests for supporting documents are a standard practice employed by cryptocurrency exchanges and custodial services during transaction reviews. Screenshots of one’s own correspondence that neither falsify information nor contain third-party personal data are acceptable.

If you do not wish to share your personal chat history, try uploading another suitable option from the alternative document list.

What should I do if my documents fail the review

Most likely your documents failed the review because they did not prove the true source of your funds. Please ensure the following:

• Your documents display the transfer of funds exactly from the source (i.e. the exchange / service / non-custodial address) that you specified in the form.
• The crypto sender wallet address, as well as the transaction amount, date, the cryptocurrency involved, and your deposit address should be visible in the documents.
• The transaction details from your documents should match the details of a corresponding deposit transaction in your Wallet.
• Your documents, or their copies or screenshots, are authentic. Neither edited document copies, nor self-made lists (such as lists made via Excel software) are accepted.

What should I do if I’m not able to provide a Source of Funds document

What can I provide if the payment arrangement was verbal?

We understand that some transactions between two people may not include a written agreement. That said, in accordance with our risk assessment policies, we can consider only the documents from the appropriate list.

If there is no way for you to provide the required document now, we are always here to review your request later. As soon as you have the necessary document, contact Wallet support, and our team will communicate the next steps.

Destination of Funds (DoF)

Destination of Funds, or DoF, helps us identify the ultimate receiver of your crypto assets once they leave Wallet.

Wallet collects these data for the purpose of additional risk assessment of its users. By providing such information, you help us enhance the safety of our project.

What documents can confirm my destination of funds

Here are some basic documents that can confirm your destination of funds:

• Service agreement
• Screenshot of correspondence showing crypto payment arrangements
• Screenshot from the recipient exchange, where the sender and receiver addresses are visible (in case you send funds from Wallet to another wallet address of yours).

For particular destination cases, see the extended document list here.

One document is typically enough to pass the enhanced due diligence review; that said, we recommend that you upload as many supporting documents as possible, to speed up the process. The document should fully reflect the destination of your funds. If it does not reflect all the details, include additional documents that can be used to provide all the necessary information.

How can I confirm the transfer of funds to another person if I am not willing to share my personal chat history?

Rest assured: your data is securely stored and only used for specific purposes outlined in our Privacy Policy.

Requests for supporting documents are a standard practice employed by cryptocurrency exchanges and custodial services during transaction reviews. Screenshots of one’s own correspondence that neither falsify information nor contain third-party personal data are acceptable.

If you do not wish to share your personal chat history, try uploading another suitable option from the alternative document list.

What should I do if my documents fail the review

Most likely your documents failed the review because they did not show the true destination of your funds. Please ensure the following:

• Your documents display the transfer of funds exactly to the source (i.e. the exchange / service / non-custodial address) that you specified in the form.
• The crypto receiver wallet address, as well as the transaction amount, date, and the cryptocurrency involved should be visible in the documents.
• The transaction details from your documents should match the details of a corresponding withdrawal transaction in your Wallet.
• Your documents, or their copies or screenshots, are authentic. Neither edited document copies, nor self-made lists (such as lists made via Excel software) are accepted.

What should I do if I’m not able to provide a Destination of Funds document

What can I provide if the payment arrangement was verbal?

We understand that some transactions between two people may not include a written agreement. That said, in accordance with our risk assessment policies, we can consider only the documents from the appropriate list.

If there is no way for you to provide the required document now, we are always here to review your request later. As soon as you have the necessary document, contact Wallet support, and our team will communicate the next steps.

How can I confirm a wallet address if it changes for each new transaction?

In this case, you need to contact the support team of the receiving service / exchange and then send our Support team a video recording (no more than 20 MB) showing the following:

• Your conversation with Wallet Support (at the very beginning of the video).
• The login process to the external wallet/service/platform you are using. Please ensure that any passwords or passphrases are hidden for security purposes.
• The profile page where the associated address is clearly visible.

Please record all of the details mentioned above in one continuous video without any cuts or interruptions. Once you upload the video in your chat with Wallet Support, our team will take a closer look at it and communicate the next steps.

Source of Wealth (SoW)

Source of Wealth, or SoW, helps us determine your financial position and the origin of your income. Simply put, SoW reflects all the possible sources that make up your total wealth. Source of Wealth can be your employment (official as well as non-official), rent received from property, investments in stocks, bonds or mutual funds, asset sale, etc.

Wallet collects this data in the scope of additional internal risk assessments of its users.

What documents can confirm my source of wealth

Here are some basic documents that can confirm your source of wealth:

• Official letter from your bank, another crypto platform or an accounting statement confirming your income and current financial situation
• Bank statement or other statement proving ownership of financial or crypto assets
• Pay slips or pay checks for the three preceding months
• Contract of sale (real estate, vehicles, etc.) along with a bank statement showing the corresponding deposit
• Certificate of payment of dividends.

For particular source cases, see the extended document list here.

One document is typically enough to pass the enhanced due diligence review; that said, we recommend that you upload as many supporting documents as possible, to speed up the process. The document should fully reflect the origin of your income. If it does not reflect all the details, include additional documents that can be used to provide all the necessary information.

How can I confirm my source of wealth if I am not officially employed

No need to worry if you do not have an employment contract. We understand that in some cases, users may not have proof of their employment or income. We can accept different proofs of income, depending on your situation.

If you are unable to submit an employment contract or paychecks, try uploading another suitable option from the alternative document list.

What should I do if my documents fail the review

Most likely your documents failed the review because they did not show the true source of your wealth. Please ensure the following:

• Your documents confirm the origin of the exact income specified by you in the form.
• They prove that you own property or a particular account, or that you perform a certain activity and receive income from it.
• They show your total assets or current balance, along with the incoming transactions for at least the last 3 months.
• Your documents, or their copies or screenshots, are authentic. Neither edited document copies, nor self-made lists (such as lists made via Excel software) are accepted.

What should I do if I’m not able to provide a Source of Wealth document

If there is no way for you to provide the required document now, we are always here to review your request later. As soon as you have the necessary document, contact Wallet support, and our team will communicate the next steps.

Form to Confirm Media Status

At any point during your use of our service, Wallet may request that you provide some information to verify your media status. If so, a special form that you need to fill out will appear in your @wallet chat. In some cases, after you complete the form, Wallet may also request additional documents from those listed earlier in this article.

You will need to specify in the form whether you are a Politically Exposed Person (PEP), or whether you are subject to international sanction regimes.

Who is a Politically Exposed Person (PEP)

Politically Exposed Persons, or PEPs, are people who hold, or used to hold, an important public or political function in their state, as well as their close relatives (spouses, children, parents, brothers and sisters) and business or property partners (such as joint ventures or trusts).

Examples of PEPs:

• Heads of state, Prime Ministers, Ministers and Deputy ministers
• Members of Parliament (MPs), Senators
• Judges
• Army and police officers
• Governors of central banks or state-owned firms
• Diplomats and Heads of international organizations.

Important: the PEP status stays valid for the next 36 months after a respective person quits their public service.

Since Wallet must meet Anti-Money Laundering / Counter-Terrorist Financing (AML / CTF) requirements, we need to conduct full customer identity verification (KYC — Know Your Customer). You can check more details on the necessity of KYC here.

What information can confirm or refute my media status

The information on your media status includes whether you are a politically exposed person (PEP) or subject to international sanction regimes or not, as well as possible criminal convictions and administrative offence records.

Center of Vital Interests (CVI)

In some cases, you may need to fill out a dedicated Center of Vital Interests form. Center of Vital Interests (CVI) refers to a region where you carry out your primary business, tax payments included. Your assistance will help us finalize the related internal risk assessments.

In accordance with the User Agreement, Wallet is not available in some countries and regions. You can find the list of countries and regions where Wallet is unavailable here.

What documents can confirm my center of vital interests

To confirm your сenter of vital interests, you need to upload 2 documents:

1. A document confirming your place of residence. You may upload one of the following documents:

• Utility bill (electricity, gas, water, home internet bill)
• Title deed or certificate of real-estate ownership
• Tenancy agreement
• Mortgage agreement.

2. A recent bank statement for the last three months. Kindly submit the statement for the account that you normally use for your daily needs.

What should I do if my documents fail the review

Most likely your documents failed the review because they did not confirm your center of vital interests to the full. Please ensure the following:

• Your proof of residence document must have your full name, residential address, and be dated within the past 3 months.
• Your account statement must show your main income and expenses within the past 3 months.
• Your documents, or their copies or screenshots, are authentic. Neither edited document copies, nor self-made lists (such as lists made via Excel software) are accepted.

What should I do if I’m not able to confirm my Center of Vital Interests

If there is no way for you to provide the required document now, we are always here to review your request later. As soon as you have the necessary document, contact Wallet support, and our team will communicate the next steps.

Full list of supporting documents

You need to upload at least one document from the corresponding category. One document is typically enough to pass the enhanced due diligence review; that said, we recommend that you upload as many supporting documents as possible, to speed up the process. The document should fully reflect the necessary information. If it does not reflect all the details, include additional documents that can be used to provide all the necessary information.

In some cases, Wallet may request additional documents after completing its initial review. If so, you will receive a related notification in your @wallet chat.