Source of wealth, source of funds
Anti-money laundering compliance for law firms
The latest Solicitors Regulation Authority report on Money Laundering refers to the steps taken by law firms to establish the source of funds and wealth for transactional matters. Many people often confuse source of funds and source of wealth, but the two terms are different and should be treated as such.
In this 40-minute webinar, Amy Bell, legal industry advisor to Encompass, summarises the differences and key regulatory drivers behind the need to identify and verify source of wealth and source of funds, and provides some practical guidance on how to approach this challenge.
- what do the regulations say?
- source of wealth vs source of funds
- practical examples and case studies
- the role of technology
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