White Papers

WEBINT can Help Financial Institutions Clarify Sources of Unexplained Wealth

The Wolfsberg Group’s recently published frequently asked questions regarding customers’ source of wealth (SoW) and source of funds (SoF) in private banking highlight growing regulatory scrutiny on this key facet of customer due diligence (CDD). While SoW assessments seek to identify how a customer accumulated their wealth, “SoF information provides an FI with the understanding of how and for what purpose an account is going to be funded,” according to the FAQ.

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