It’s a key piece of client due diligence. And it’s also the hardest part to do. We bring you some clarity so you can make this element of the CDD process a smoother one.

There is perhaps no other issue that vexes people in compliance more than the source of funds/source of wealth (SoF/SoW) check. Yes, it’s a critical part of client due diligence (CDD) but who wants to talk to clients about their money? Fee earners don’t, neither do lawyers and compliance officers not only don’t want to but often don’t have the access to do it.