Hong Kong Banks Implement Source-of-Funds Requirement for Investment Accounts

Since yesterday, some banks in Hong Kong have introduced a new requirement for offline investment account applicants to sign a source-of-funds statement. According to NS3.AI, a source from a foreign bank in Hong Kong confirmed the existence of this additional signing requirement, which aligns with local regulatory standards. The documents provided to several clients specify that funds used for investment activities and settlements must originate from legitimate sources outside mainland China.