Legl: Source of Funds: An Art or a Science?

Tackling issues of source of funds and source of wealth when undertaking your client due diligence is often more art than science. In complex situations or where business clients are involved, six months of bank statements are rarely the silver bullet!

In this webinar Kate Burt, Legl’s Head of Risk and Compliance and experienced solicitor and risk management consultant, will be taking us through the basic principles in this area as well as some approaches to more complex situations.

We are delighted that Toby Brooks, one of our talented Product Managers adept in product discovery, delivery, and go to market strategy, will showcase our latest features which help our clients use technology to leverage their approach to source of funds.

What we’ll cover:

• An overview of the regulatory requirements
• The difference between source of funds and source of wealth
• What enhanced due diligence really looks like
• What information you should retain as evidence and the importance of audit trails
• Some worked examples of more complex source of funds scenarios
• A whistle-stop tour of Legl’s approach to SoF