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Is verification of the source of funds a one-off event?
The process of verifying the source of funds needs to be updated from time to time (Article 20(1)(6) and Article 23(2)(1-3) of the Estonian Anti-Money Laundering and Terrorist Financing Act of 26.10.2017).
Unfortunately, it is not possible to clearly define this period because it depends on a number of factors, such as the customer's trading volume, the frequency of transactions or, for example, whether the trading pattern has changed, KYC-related considerations and many others affecting individual risk assessment.
Furthermore, regardless of verification by Zonda, such verification may also be initiated by the payment operator.