Where enhanced due diligence is conducted with respect to a client, First AML will collect either source of wealth or source of funds evidence.

For providing source of wealth or source of funds evidence, the client will be requested to provide one of the following:

Option 1

  1. documentation evidencing the client’s source of wealth or source of funds; and

  2. a written statement explaining how the documentary evidence confirms the client’s source of wealth or source of funds.

Option 2

A written and dated statement from the client’s solicitor or accountant satisfying all of the following criteria: 

  1. Includes the firm’s branding (whether on the firm’s letterhead or in an email).
  2. Explains the relationship between the firm and the client, and how long the firm has acted for the client.
  3. Explains, in detail, how the client has acquired its funds or wealth.

The documental evidence submitted will be reviewed against the requirements advised above. Where the evidence does not comply with the requirements, further information will be requested. 

For the avoidance of doubt, documental evidence will not be verified or otherwise opined on. Any further information you consider necessary to obtain must be obtained separately by you.