Why do I have to provide information about my source of funds and wealth?

CleverCards is an e-money distributor, and as such we are subject to anti-money laundering regulations which aim to combat money laundering and terrorist financing.

The anti-money laundering regulations require us to know our customers (KYC process). As part of this process, we are required to identify any politically exposed person (‘PEP’) and/or relatives and close associates (‘RCA’). After carrying out our onboarding KYC and identifying a customer as a [PEP/RCA], we need to confirm your source of funds and wealth in order to be compliant with these regulations.