Source of Funds Verification for High-Risk Activity
When money looks large or unusual, you must know where it came from. We build the source of funds verification that establishes and evidences the origin of the specific money moving through your business.
Knowing Where This Money Came From
Source of funds is about the specific money in front of you: the deposit, the transfer, the payment. For higher-risk customers and unusual transactions, you must establish where those particular funds originated and confirm it with evidence, so a legitimate salary or sale is never mistaken for something it is not.
Funds and Wealth Are Not the Same
People confuse source of funds with source of wealth, and examiners notice. Source of funds is the origin of the specific money in a transaction, a salary, a property sale, a loan. Source of wealth is how the customer built their assets overall. We keep the two distinct and evidence the one your obligation actually calls for, so your files answer the right question.
Funds Origin
We establish where the specific money in a transaction genuinely came from.
Evidence Gathering
We collect the documents that prove the funds, from payslips to sale records.
Plausibility Checks
We test whether the stated origin fits the customer and the amount involved.
Clear Records
We document the source of funds so your files hold up under examination.
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Businesses We Support With SoF
We build source of funds verification for money services businesses, payment providers, cryptocurrency platforms, currency exchanges, real estate firms, and the many other reporting entities handling higher-risk activity under the PCMLTFA.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Businesses Choose Our Approach
Genuinely Evidenced
We confirm the origin of funds with real documents, not a customer’s word, so your verification stands up to scrutiny.
Properly Distinguished
We keep source of funds and source of wealth separate, so you evidence the one your obligation actually requires.
Plausibility Tested
We check that the stated origin makes sense for the customer, catching explanations that do not add up.
Serving Businesses Across Canada
We deliver source of funds verification right across Canada, from Toronto and Montreal to Vancouver and Calgary, and for foreign reporting entities carrying Canadian obligations wherever they happen to operate.
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Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
Source of Funds Questions
Clear answers to the questions Canadian businesses ask most about establishing and evidencing a customer’s source of funds under the PCMLTFA.
What is source of funds?
The origin of the specific money involved in a transaction or relationship, such as salary, savings, a property sale, or business revenue.
How does it differ from wealth?
Source of funds is the origin of the specific money in play. Source of wealth is how the customer built their overall assets.
When must we verify source of funds?
Typically for higher-risk customers and unusual or large transactions, where establishing where the money came from is part of enhanced due diligence.
What evidence proves source of funds?
Documents such as payslips, bank statements, sale agreements, or loan records that show where the specific funds genuinely originated.
Is the customer's explanation enough?
No. You should confirm the stated origin with evidence and check it is plausible for that customer, not simply accept what they say.