Known Use of Proceeds
From Open Risk Manual
Definition
Known Use of Proceeds relates to investments and loans for specific (corporate or consumer) purposes (i.e., the financial institution knows for what activity the money is used).
The opposite concept (Unknown use of proceeds) refers to investments and loans for general (corporate or consumer) purposes (i.e., the financial institution does not know exactly for what activity the money is used, which holds for general purposes loans).
