Arranging for the movement of funds or assets’ (e.g. a contract to transfer assets from one party to another). The requirement to carry out source of funds checks might apply even if no money is coming through the Firm’s client/trust account. If the service is not transactional, it is important to establish whether it could facilitate the movement of funds or assets.
For example, a firm instructed to draw up a contract to transfer assets from one party to another party will not receive funds in their client/trust account but will be facilitating the movement of assets. An offence may be committed if a person enters into or becomes concerned in an arrangement they know or suspect facilitates by whatever means the acquisition, retention, use or control of criminal property, by or on behalf of another.