AML: Source of Wealth & Source of Funds Enquiries
Session 8 in a suite of regulatory updates the session will focus on the recent regulatory interest in the topic of source of wealth enquiries, as opposed to source of funds enquiries. The latter we are accustomed to requesting, but what is the difference between them and what are we expected to do in relation to the enquiries we make of a client’s overall wealth?
Candidates will learn:
- Source of Wealth – what is it?
- Source of Funds – how does it differ?
- What do we need to ask of clients?
- What records do we need to keep?
- What evidence do we need?
- Do we corroborative proof of the truth of what we are told?
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Trevor Hellawell
CEO • ExL Practice Development
Trevor Hellawell is a solicitor and legal training and management consultant working with major law firms, local law societies, many legal training providers and other clients. Until going freelance in 1999 he was a full time lecturer with the University of Law, ending his career as a Principal Lecturer at the York Branch. Until recently returning to the freelance arena, he was Head of Law Programmes at BPP.
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