Source of Funds vs Source of Wealth Checks
Source of funds vs source of wealth: what each means, when EU, UK and US rules ask for them, which documents prove each, and when a client’s word is enough.
Learn how to streamline client onboarding, automate key processes, and create seamless, hassle-free experiences for your clients.
Source of funds vs source of wealth: what each means, when EU, UK and US rules ask for them, which documents prove each, and when a client’s word is enough.
Customer identification program requirements for US banks: what to collect before opening, when to verify, what to record and what has changed since 2025.
A customer risk assessment rates each client low, medium or high risk. See which factors to rate, how to combine them and when a client needs a new rating.
Before you sign, a vendor risk assessment checks data security, finances and subcontractors. The proof to ask for, how to rate a vendor and when to recheck.
What is a UBO in KYB? See who counts as a beneficial owner in the US, EU and UK, how to trace ownership through holding companies, and where trusts fit in.
What AML compliance requires: the five parts of a program, the records to have ready for an examiner, who must comply, and the US and EU rules now changing.
Vendor onboarding process in 7 steps: what to collect, bank detail checks, risk tiers, contracts, approvals, payment terms and what to renew each year.
Law firm client onboarding in 7 steps: conflict checks, ID, the engagement letter, fees and client money, the first 30 days, plus a checklist to copy.
KYB verification in 6 steps, from the company record to approval. Plus the documents to ask a business client for and what official records cannot confirm.
