You mean this type of question?

It's OK, I have accepted their AMLA policy and I genuinely provide the source of funds. No biggie.

Do you mind elaborate further what else to be provided to Luno?

i.e Any documents like bank statemet / payslip? Or just purely reply in wordings the source of cryptos were sent from like an exchange / wallet?


Thanks.

Luno provides a menu selection of all possible sources of the crypto fund.

You select from a list of private wallet (Ledger, Atomic, Metamask, Trust, etc) originating addresses or exchange wallet (Binance, KuCoin, ByBit, HTX, etc) originating addresses.

I chose KuCoin, and specify the originating wallet address shown in the ADA blockchain transaction details.

It was instantly approved and credited into my Luno account.

No other supporting documents are needed.

Thanks for the detail explanations.

It doesn't sound like Luno is asking too much though. Not sure other users have a different experienced, would appreciate further input which may enlighten our doubt when receiving cryptos into Luno.

Cheers.

This post has been edited by danielwoo: Apr 22 2024, 11:46 PM

You're welcome

I'm not sure what info Luno will ask because after the absurd rule appeared, I no more do any crypto transfer using Luno.

Luno is just complying with Malaysia's prevailing AMLA regulations, being a licensed DAX for Malaysian citizens.

If you are not comfortable with it, by all means don't use Luno. It is entirely up to you.

Have you ever encounter Luno enquiries like this?

As I mentioned earlier, the source wallet address and which crypto platform/private wallet it came from is all Luno asked for.

There was no need for proof of source of income or bank statements.




This post has been edited by raynman: Apr 24 2024, 04:32 PM

i kena before. few hundred amount only. but i provided it since my money is clean.

Did you "kena" recently or a long time ago?

few months back. i think i posted here too. lol

Mine was recently on 4th April 2024

That's absurd. Luno is getting from bad to worse.

true but remains one of the safest and legal method here

Those who deem compliance with AMLA regulations as an absurdity, must have something to hide.

Luno is able to detect who is doing "ahem ahem" in the account. Once your account is ordered to close, you should know why.

but they should go after the big sharks. go after my few hundred ringgit transaction for wat

Big sharks will probably not use Luno.

Just a guess.

Not want to do something illegal that have something to hide but for privacy sake. Privacy is very important. Some people feel uncomfortable to reveal some information online. Information that can be personal and sensitive. Revealing some personal and sensitive information online can be dangerous.

This post has been edited by tshihmin: Apr 29 2024, 10:37 AM