Anti-Money Laundering · glossary
The accounts the money for a deal comes from, and how it reached them. A bank statement shows only the last step. So for Merranby the firm traces the price from the trust to Ostrick, and on to the firm. Source of Funds and Source of Wealth Log, paragraph 1 · Chapter 6 · see Source of wealth
Explained in Chapter 6, Source of Funds and Source of Wealth Checks, of Anti-Money Laundering.
Source of funds means the accounts the money for this purchase comes from, and how it reached them. Source of wealth means how the people behind the client came to have their money at all. The first follows one payment, and the second explains a whole fortune.Read Chapter 6, Source of Funds and Source of Wealth Checks →
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