Source of funds and source of wealth documentation is only required when a client's risk assessment returns medium or high risk. If the result is low risk, you do not need to collect these documents.
What these documents are
Source of funds documentation proves where the money for the specific transaction is coming from. Examples include:
Bank statements showing the funds available for the purchase
A mortgage or loan approval letter confirming finance
Evidence of a property sale that is funding the purchase
Inheritance documentation
Business income records
Source of wealth documentation explains the broader origin of the client's overall wealth — not just this transaction. It's typically required for high-risk clients and may include:
Tax returns or payslips showing income over time
Business ownership records
Investment or superannuation account statements
Evidence of an inheritance or gift
A general guide to when each is required
Risk result | Source of funds | Source of wealth |
Low risk | Not required | Not required |
Medium risk | Usually required | Not required (unless specific factors indicate otherwise) |
High risk | Required | Required |
When you submit a risk assessment and it comes in as High Risk, they will automatically appear under your High Risk tab.
Your role: collect, don't verify
You are collecting this documentation from your client, you are not independently verifying or sourcing it yourself. Your obligation is to request it, receive it, and keep it on file as part of the case record.
If a client cannot or will not provide the required documentation, that itself is relevant information. Document it in the Notes tab and consider whether to proceed with the engagement.
How to upload documentation yourself
If your client has provided documents directly to you (e.g., by email, mail or in-person), you can upload them to the case yourself:
Open the case and click the Client Documents tab
Click Upload Document
Select the file from your device and choose the document type
Click Save — the document is now stored in the case record
You can also go directly to the Client tab, search their name > Documents > Upload documents.
Where the documents are stored
All uploaded documents are stored in the Documents tab of the case and at the Client. They are part of the case's permanent record and are accessible to your compliance auditor.
You do not need to keep a separate file — the case record is the file.
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