Whenever we receive funds for any purpose other than payment of our fees, we must be satisfied that the money is legitimate and not connected to crime, terrorism, or any other form of financial crime.
"Source of Funds" means understanding how and from where the money being used in a matter has been obtained. This is different from "Source of Wealth," which looks more widely at how the client accumulated their overall wealth.
For all high-risk matters, all money movements must be discussed in advance with the MLRO.