Source of Funds
/ˈsɔrs əv fʌndz/
Definitions
- (n.) The origin or means by which money or assets are obtained, especially relevant in legal, financial, and regulatory contexts such as anti-money laundering compliance.
The bank required verification of the source of funds before approving the transaction.
Forms
- source of funds
Related terms
See also
Commentary
In drafting, clearly define the scope of 'source of funds' to ensure compliance with financial and regulatory standards.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.