If you’ve received an email from Busha with the subject line “Compliance Review”, don’t worry. It’s not a red flag. It’s part of a routine process to stay aligned with regulatory requirements and maintain a good standing account.
Just like your bank might ask for a few documents occasionally, we do the same to ensure everything checks out. It’s normal, it’s expected, and you’re not alone.
Why You’re Getting a Compliance Review Email
Busha is required by law and by our internal policies to conduct regular compliance reviews. These reviews help us:
Keep your account safePrevent misuse of crypto accountsStay compliant with the rules set by regulators
So if you’ve received one, don’t panic. It’s not because you’ve done something wrong; it’s just our way of double-checking that everything is in order and part of our routine checks to keep Busha safe and secure for all users, including you.
What to Do If You Got One of These Emails
First, check your inbox for an email from Busha with a subject like:
“Busha Compliance Check – Request for Information””Compliance Review – Busha”
If you can’t find it, check your spam or promotions folder. Sometimes important messages end up there by mistake.
Once you find the email, open it and read it carefully. It will usually ask you to provide details like:
Where your recent deposits came from (e.g., a bank account statement; other examples are payment slips, investment return documents, business income proof, etc.)Your relationship with the person who sent funds to youWhat kind of wallet you used for the transactionThe reason behind a recent deposit or withdrawal
Sample Compliance Review Requests (And How to Respond)
Example 1: Crypto Review
“To aid our review, kindly provide the following:
Source of your last three deposits (tell us who sent you the crypto and where it came from, e.g., a friend, a trading platform, a business partner, etc.)Your relationship with the wallet owners (is it your friend, business partner or investor?Purpose of your transactions with them. (What was the crypto for? Was it a gift, payment, a loan, etcType of wallet address used”(was it sent from a personal wallet, trust wallet, or an exchange?)Supporting Documents (chats or emails screenshots showing the transaction was agreed upon, invoices if it was for business, bank statements, etc.)
How to respond:
Attach your bank statements for the last three months.Briefly describe who the wallet owners are (e.g., “My brother” or “My business partner”).Please specify whether you used a personal wallet, a custodial wallet, or an exchange wallet.
An ideal response would be:
“Hello, the last crypto deposit was from my business partner in the UK for a web development job I completed. It was sent from his personal MetaMask wallet. I’ve attached our conversation and a screenshot of the wallet address used. The crypto was payment for freelance work.”
Example 2: NGN Deposit Review
“Kindly provide the source of funds for your recent NGN deposits and the purpose of the transactions.”
How to respond:
Please provide a PDF copy of your bank statement showing the account the money came from — not a Word document, Excel sheet, screenshot, or any edited version.Please download the PDF directly from your bank app or internet banking platform.Explain where the money came from (e.g., salary, business income).Mention what the funds were used for (e.g., investing, savings).
An ideal response would be:
Hello, the funds were sent from my XYZ Bank account. It’s my (how did you get the funds, e.g salary, investment, payment for goods, etc). I’ve attached the bank statement in PDF format as downloaded from my bank. The purpose of the transaction was to xyz.
Tips to Make the Process Smoother
Reply quickly. The sooner you send the info, the faster your account review will be completed.Be honest and transparent. Just explain in your own words; there’s no need for fancy terms.Don’t ignore the email. If we don’t hear from you, your account might get restricted temporarily.Need help? Ask. Our support team is always available to guide you if something is unclear.
In Summary
Getting a compliance email doesn’t mean you’ve done anything wrong. It’s just part of keeping things safe and lawful, for you and everyone who uses Busha.
If you’ve been asked for some details, take a moment to gather the necessary documents and send them in. And if you haven’t seen any emails yet but think you might have missed one, check your spam folder.
Got questions? We’re here to help.
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The information provided in this post is for educational and informational purposes only and does not constitute financial, investment, legal, or tax advice. Busha provides the content on this blog on an “as is” and “as available” basis and makes no guarantees regarding the accuracy or completeness of any content hosted on this blog. We do not recommend any product/service, and we invite our readers to conduct their own research and consult with a licensed financial advisor before making any investment decisions. Digital asset markets are highly volatile and involve significant risk. We expressly disclaim all liability for any loss incurred based on reliance on any content hosted on the Busha Blog.
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