Which control concerns funding sources, including limits on funding for specific products and identification when over account limits?

Which control concerns funding sources, including limits on funding for specific products and identification when over account limits?

• A. Limit loading, value and geographical limits
• B. Customer Due Diligence
• C. Source of funding (limits on funding for specific product and identification when over account limits)
• D. Record-keeping, transaction monitoring and reporting

Answer: (C)

Funding source controls focus on where the money comes from and set rules like limits on funding for specific products and the need to identify the source when funding crosses account thresholds. This helps ensure funds are legitimate and traceable, and it triggers additional verification when a transaction or product funding exceeds predefined limits. That makes this option the best match for the described control. Other controls cover different AML aspects: limits on loading, value, and geography pertain to general transaction thresholds and risk geography; Customer Due Diligence looks at overall customer risk, including source of wealth, but is broader than just funding sources; and record-keeping, transaction monitoring, and reporting relate to documenting activity and detecting suspicious behavior rather than specifying funding-source verification rules.

Funding source controls focus on where the money comes from and set rules like limits on funding for specific products and the need to identify the source when funding crosses account thresholds. This helps ensure funds are legitimate and traceable, and it triggers additional verification when a transaction or product funding exceeds predefined limits. That makes this option the best match for the described control.

Other controls cover different AML aspects: limits on loading, value, and geography pertain to general transaction thresholds and risk geography; Customer Due Diligence looks at overall customer risk, including source of wealth, but is broader than just funding sources; and record-keeping, transaction monitoring, and reporting relate to documenting activity and detecting suspicious behavior rather than specifying funding-source verification rules.