Source of Funds CDD: An Art or a Science?


Tackling issues of source of funds (SoF) and source of wealth (SoW) when undertaking your client due diligence is often more art than science. In a recent webinar, Kate Burt, Head of Risk & Compliance discussed the regulatory requirements surrounding source of funds and how Legl can help to leverage your firms’ approach to this issue. It is estimated that approximately £100 billion is laundered every year in the UK, and £1.8 trillion on a global scale. How are you ensuring your firm isn’t unknowingly processing dirty money? Spearheaded by the SRA, the Legal Sector Affinity Group (LSAG) is comprised of all of [...]