To help verify the origin of your funds and meet applicable compliance requirements, LBank may ask you to provide additional information and supporting documents about your source of funds or source of wealth. This guide explains the difference between the two, provides examples of supporting documents, and outlines key submission requirements to help you prepare complete information and reduce the need for follow-up requests.

What Is Source Verification?

1. Source of Funds (SoF) refers to how the funds used for a specific transaction or deposit were originally obtained, such as through salary, investment returns, or proceeds from selling an asset. It identifies the underlying origin of the funds—not just the bank account, trading platform, or wallet from which they were transferred.

2. Source of Wealth (SoW) refers to how you accumulated your overall wealth over time, such as through employment income, business earnings, investments, or inheritance. It extends beyond the funds deposited on the platform and may include other assets, such as property.

📌Example: You accumulated assets through years of employment and investing. You recently sold a property and used part of the proceeds to purchase digital assets, which you then deposited into LBank. In this case, your employment income and investments are your source of wealth, while the property sale proceeds are the source of funds for this deposit.

Why Is This Information Required?

1. Source of funds and source of wealth verification helps the platform establish the lawful origin of funds, meet applicable anti-money laundering and counter-terrorist financing obligations, and reduce financial crime risks. A request for additional information does not, in itself, indicate any wrongdoing on your part.

2. Identity verification and source verification serve different purposes as you may therefore be asked to provide additional information even after completing identity verification. 

• Identity verification confirms who you are, 

• while source verification establishes how you obtained your funds and accumulated your wealth. 

What Documents Can You Prepare?

1. Prepare documents based on your circumstances and the requirements stated in LBank’s notification. The examples below are not exhaustive, and not all documents are required for every verification.

2. Your submission should clearly explain how the funds were obtained, how you received them, and how they were transferred to LBank. For example, an asset sale agreement may establish the origin of the funds, but records showing receipt of the proceeds may also be required.

Document Submission Guidelines

To help us verify your information:

1. Provide truthful information and ensure your explanations are consistent with your supporting documents.

2. Submit clear, complete, and legible documents. Avoid missing pages or cropping out key information.

3. Keep relevant names, issuing institutions, dates, amounts, and transaction details visible so the documents can be linked to you.

4. Provide records covering the relevant income or transaction period. Follow LBank’s notification for document date, format, and other requirements.

5. If funds passed through multiple accounts, platforms, or wallets, arrange the records chronologically and clearly explain the transfer history.

6. Do not falsify documents or make unauthorized changes to their contents. If you need to redact non-essential sensitive information, check LBank’s requirements first.

📌 Submit your information using the method specified in LBank’s notification. If the information does not adequately establish the source of your funds, you may be asked to provide additional documents or explanations.

Frequently Asked Questions

1. Are transfer records alone sufficient?

• Not necessarily. Transfer records generally show where funds were transferred from, but may not explain how they were originally obtained. You may also need supporting evidence of the underlying source, such as salary payments, an asset sale, or investments.

2. How do I explain funds transferred from another trading platform or wallet?

• Provide the relevant transaction and outgoing transfer records from the platform or wallet, and explain how you acquired the digital assets. For example, if you used your salary to purchase digital assets, you can provide records of salary payments, purchase records, and subsequent transfer records.

3. What if my funds come from multiple sources?

• Explain each source separately and provide the corresponding supporting documents. For example, if your funds come from both salary savings and investment returns, your records should clearly identify which portion comes from each source.

4. What if I cannot provide a requested document?

• Contact LBank Official Customer Support to explain why you cannot provide the document and confirm whether alternative supporting evidence can be accepted. Do not submit false information as a substitute.

5. How long does the review take, and will it affect my account functions?

• Refer to the specific official notification from LBank. This guide does not specify a standard review timeframe or indicate whether any account functions will be affected during verification.

Reminder

Before submitting, make sure your information is truthful and accurate, and your supporting documents are clear and complete. If you have any questions about the requirements, contact LBank through its official customer support channels.