What belongs in a source-of-funds pack
A practical list of exhibits that usually satisfy KYC auditors — and the gaps that keep appearing in Hong Kong files.
When we verify KYC records, source-of-funds narratives fail less often for creativity than for missing links. A paragraph that says “savings from employment” without pay slips, tax filings, or bank credits that match the story will not survive a careful file test.
Evidence that usually holds
For salaried individuals, three to six months of payroll credits into an account the customer controls, plus an employment letter or recent tax assessment, give auditors a trail they can follow. For business owners, management accounts alone rarely suffice; we look for dividends or drawings supported by company bank statements and, where relevant, audited financials.
Corporate customers need a clear path from the funding account to the beneficial owners who authorised the transfer. Intermediate company accounts without explanations are a frequent exception.
Timing matters
Exhibits should cover the period when funds entered the relationship, not only the month of onboarding. Backfilling with statements dated years later without reconciling intervening movements invites findings.
How we write exceptions
Our KYC record verification audits cite the missing exhibit type and the procedure clause that required it. That specificity helps operations request the right document instead of collecting another generic utility bill.