Due Diligence

  • Hi, I know there’s been a few threads about this so I’m just interested what happens if you fail to pass due diligence or prove earnings because of a different type of job (eg pro gambler) ? Just intrigued as to whether they’d close your account and you lose money or just ban future Deposits and forced to sell up and leave?

  • @chaps1988 dont quote me on this but i would of thought you'd have have to sell your account. Youd get your deposits back minus 2%.

  • Not sure of circumstances but we've seen previously that people have just been refunded their investment rather than what it's worth now.

  • Alot of the top accounts are pro gamblers such as Big Don so they can pass EDD so long as the origin of funds can be proved which is fair enough.

  • In terms of 'big gamblers' it depends How they gamble

    If its a back street poker game then there'll be no receipts or proof of winnings.

    If they are trading, winning from online betting accounts, then there will be proof of funds and proof of winnings showing in those accounts and so they would pass 'source of funds' I imagine

  • I’m currently going through with it now got an email yesterday don’t know how long it takes

  • I have seen a couple of people say that they’ve been given a period of time (a week, say) to sell off enough to cover the deposit amount which has not passed the checks, to then withdraw.

  • How do people not pass the checks though, unless they’ve got the funds from nefarious means.
    Shouldn’t be a problem for any genuine person

  • not allowing poeple to trade while FI are late to respond to the emails is ridiculous tho

  • I’m stuck in the process too. I provided some stuff a month ago, now they’ve asked me to sign the pdf form and send my payslip too. I was trying to deposit £1k to invest pre 9th but not yet allowed. Very frustrating

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