Source of funds investigation record
Source of funds investigation record

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Source of funds investigation record

    1. 1

      Introduction and instructions

      1. 1.1

        We must establish the source of funds involved in a transaction in relation to ongoing monitoring (where necessary).

      1. 1.2

        We must establish the source of funds and source of wealth involved in a transaction:

        1. 1.2.1

          when conducting due diligence on politically exposed persons (PEPs), including family members and known close associates; and

        1. 1.2.2

          when conducting CDD in relation to any business relationship with a person established in a high-risk third country or any relevant transaction where either of the parties to the transaction is established in a high-risk third country.

      1. 1.3

        [We also seek to establish the source of funds [and wealth] in the following circumstances:

        1. 1.3.1

          where there are concerns about the source of funds[ or wealt

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