At Capital.com, the financial supervisory authority is responsible for reviewing clients’ funds and/or sources of wealth. The main responsibility of the money laundering reporting officer is to ensure that Capital.com complies with all relevant laws and regulations, and to track and prevent any financial crimes.
Once the deposit amount in your account exceeds a certain amount, Capital.com will send you a notice requesting you to provide Capital.com with proof of the source of funds. For the Cyprus Securities and Exchange Commission (CySEC), ASIC and the UK Financial Conduct Authority (FCA-regulated accounts, the deposit amount is US$50,000 (£36,731, €40,992), and for customers of the National Bank of the Republic of Belarus (NBRB), the deposit amount is 22500 US dollars (16525 pounds, 18447 euros). This is called the source of funds/customer benefits confirmation procedure.
When you receive this message, Capital.com kindly asks you to send a clear picture (scan or photo) of the document(s) to verify the source of your funds and/or wealth.
Based on your source of income, check which files you can upload. Please make sure that the file is up to date and contains your name, date and all relevant information clearly visible:
- Salary: Copies of pay stubs or tax slips for the past three months.
- Savings: Bank statements, showing the current balance of your savings account, and related documents showing the source of your savings.
- Real estate sales: A copy of the real estate sales agreement or bank statement, showing the sales income entered into your bank account.
- Cryptocurrency: Display your cryptocurrency balance and related documents of deposits/withdrawals in the past three months, and/or related transaction information (transaction history, operations) of other crypto exchanges
- Inheritance: Probate, letter of inheritance, and bank statement showing funds received and current balance.
Other appropriate sources of income and related documents include: self-employment, freelance or affiliated activities, dividends, rents, pensions, stock sales, investments, gifts, lotteries, divorce, and gambling.
Source of funds and/or wealth review (SOF/SOW) are financial terms, which means that Capital.com requires you to send Capital.com some form of proof that the funds you have earned or otherwise obtained come from legal sources. This could be your salary, savings, property sales, or other sources.
There are several very important reasons why Capital.com asks you to inform the source of funds:
To verify that the operation was performed by you
In order to protect all customers and funds from fraud or related to any illegal activities
To comply with the anti-money laundering and anti-terrorist financing laws and regulations applicable to Capital.com.
Generally speaking, you don’t need to consider the source of funds at all. Capital.com will let you know when Capital.com needs you to provide the source of funds/wealth review (SOF/SOW) documents.
However, if you are waiting for a large amount of money to be sent to your account, Capital.com would be very grateful if you could send the documents to Capital.com in advance. Capital.com’s goal is to process within 24 hours and ensure strict confidentiality. Sending documents in advance means that in the event of a large transfer, you will not be delayed in using the Capital.com platform.