A practical guide to understanding and verifying source of funds and source of wealth as a core part of AML and client due diligence. It explains how to assess where money comes from, identify risk, and document decisions clearly to meet regulatory expectations and protect your firm from financial crime exposure. VW_Source_of_funds
What’s in the guide
- Clear explanation of source of funds vs source of wealth and why both matter
- Step-by-step approach to conducting SoF and SoW checks
- Documentation and evidence expectations for different risk levels
- Guidance on enhanced due diligence, PEPs, sanctions and crypto-related wealth
- Ongoing monitoring and how to reassess risk over time
- Realistic case studies highlighting red flags and practical responses