Source of Wealth Enquiries - What the Regulators Expect

Introduction

One of the key matters on the regulators’ radars is the range of enquiries that a firm makes as part of its client and matter risk assessments.

Besides addressing the risks posed, and seeking a justification for any assessment made, regulators suggest that firms ought to be making source of wealth and funds enquiries, and that such enquiries should be commonplace.

This webinar will examine the exact requirements of source of funds enquiries on the firm’s own clients and any other third-party contributors to the funding of the transaction.

It will also consider the trickier and more sensitive question of where your client and others get their money from, more generally.

Finally, this webinar will discuss what kind of information your firm needs, and whether you must obtain independent proof to verify the information provided.

What You Will Learn

This webinar will cover the following:

• CDD processes
• Source of wealth enquiries
• What information do we need?
• How do you get it?
• How do you prove its veracity?
• Source of funds enquiries
• What information do you need?
• From whom?
• How do you prove the money is OK?

This webinar was recorded on 18th April 2024

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