Due diligence requirements have several components. One of the facets to the due diligence process includes documenting Source of Funds and Source of Wealth. The information gathered helps with transaction monitoring and other compliance reviews to prevent money laundering. Do you know why you are being asked for this information as an individual? As a Compliance Professional, do you ask the right questions at the right time? Check out this video for a basic look at some of the issues and considerations for this part of the due diligence process.

Check out my prior video on TCSPs at    • WHAT IS A TRUST & CORPORATE SERVICES ...  

Check out my prior video on ESG & Environmental Crime at    • THE BASICS!  ESG & ENVIRONMENTAL CRIME!  

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