Trustee Plus Account Unblocked After a Source-of-Funds Review
Executive Summary
A private cryptocurrency investor and trader in the Czech Republic approached P&P after Trustee Plus restricted a personal account during a €50,000 transaction. The provider requested evidence of the source of funds and updated Know Your Customer (KYC) documents. P&P reviewed the documentation gaps, collected supporting records and prepared a formal compliance submission. Following receipt of the complete package, Trustee Plus confirmed its acceptance and unblocked the account. The confirmation arrived on the day the package was submitted.
Client Context and Objective
The client used a personal Trustee Plus account for cryptocurrency activity. The restriction interrupted the ability to transact and access the assets held in the account.
The objective was to restore normal account use by responding to the provider’s financial monitoring request. The matter concerned an account restriction, rather than the recovery of assets transferred to a fraudster.
The Compliance Challenge
The information available to the provider lacked support for the origin of the funds and up-to-date KYC documentation. Both parts of the request needed to be addressed.
The response therefore required financial records alongside identity and address evidence. Necessary documents also had to be prepared, notarised and translated into English for the submission.
P&P Work
- Review the PoF and KYC gaps. At the initial consultation, P&P identified inconsistencies in the proof-of-funds (PoF) and KYC package and agreed the timing of the first response to the provider.
- Collect the supporting records. The team gathered 12 months of personal bank statements, contracts and evidence of income from token sales, payment orders, invoices, identification and proof of address. These materials formed the basis of the response.
- Prepare the documents for submission. The necessary documents were prepared, notarised and translated into English. This work produced the supporting package for the provider’s review.
- Submit the formal response. P&P submitted the complete package through the compliance channel with a cover letter and reasoned explanations. Trustee Plus then reviewed the materials and confirmed that the account had been unblocked.
Roles and Responsibilities
Client inputs comprised personal financial records, evidence of token-sale income and identity documentation. P&P’s work covered the documentation review, preparation and formal submission. Trustee Plus assessed the package and made the decision to lift the restriction.
Deliverables
- A proof-of-funds and KYC package containing financial, income, identity and address evidence.
- Required supporting documents with notarisation and English translations.
- A formal compliance submission with a cover letter and supporting explanations.
- Recommendations on keeping KYC information current and maintaining internal proof-of-funds records.
Result
Trustee Plus unblocked the account on the day the complete documentation package was submitted. The client regained the ability to conduct cryptocurrency transactions and receive incoming transfers.
| Before the engagement | Outcome |
|---|---|
| Personal account restricted during a €50,000 transaction; source-of-funds evidence and updated KYC documents requested. | Documentation accepted and account unblocked; cryptocurrency transactions and incoming transfers enabled again. |
Practical Lessons
- Address financial evidence and identity checks together. This request involved both proof of funds and KYC updates. The submitted package addressed both documentation gaps.
- Prepare records before the next review. The follow-up recommendations focused on regularly updating KYC information and maintaining proof-of-funds records, reflecting the gaps identified in this matter.
- Distinguish account access from a completed transfer. The documented outcome was removal of the restriction and restoration of account functions. It does not establish that the original €50,000 transaction was subsequently completed or that another review will follow the same timeframe.
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