Source of Funds - a simple explainer for your clients
What’s inside:
- What’s required and why: Explains AML obligations, why checks are needed, and what documents might be requested (e.g. payslips, bank statements, sale agreements).
- How the checks work: Outlines how far back firms may look, what triggers requests for additional information, and when enhanced checks are needed (e.g. complex funds, overseas sources, PEPs).
- What clients can do: Practical steps such as telling the firm early how the matter will be funded, providing clear document trails, and sharing information securely to avoid delays.
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