Why do I need to upload my bank statement?

Kuflink is obliged by the Financial Conduct Authority (FCA) and Joint Money Laundering Steering Group (JMLSG) to conduct Consumer Due Diligence (CDD). Our processes are compliant with both FCA guidelines and the JMLSG guidelines. By Requesting a bank statement we are cross referencing the name, address and bank details with those that have been submitted when registering on our platform. 

We have come across many users who made typos or errors when submitting their bank details without the statement, to which there was the risk of funds going back to an incorrect account not registered to them. Every action we take is to ensure our platform and investors are as safe and secure as possible.

Additionally, we also review the bank statement to establish source of funds. If this cannot be established by the bank statement provided, we may request additional documentation.

Updated 23rd August 2024