What is Source of Wealth and Source of Funds - AML Training

Descripción

This Source of Wealth and Source of Funds AML online training course is self-paced and will give you the opportunity to raise awareness by explaining what Source of Wealth and Source of Funds is and how critical it is for individuals to be aware of any of the red flags while performing a review of a client. All of our Anti Money Laundering (AML) Compliance training and Know Your Customer (KYC) training are evidenced at the time of completion with a digital certificate and are broken down in a clear and easy way. In this course you will learn about the following: • What is Money Laundering • What is Terrorist Financing • Where does money laundering occur • The impact of money laundering on our society and economy • What is Source of Wealth • What is Source of Funds • How to evidence SoW and SoF at the time of onboarding • When is it required to perform SoW and SoF Assessment​ • What is Beneficial Ownership • What is a Politically Exposed Person (PEP) • What are Red Flags​ • What to do if you come across something suspicious​ • Raising suspicious behaviour By the end of this course, you will have a full understanding of what is Source of Wealth and Source of Funds and how to document and evidence it within the KYC process.

Lo que aprenderás

• Understanding the impact of money laundering and terrorist financing on our society
• Explain the stages of money laundering
• Demonstrate the key elements of Source of Wealth and Source of Funds
• Have a better understanding of the difference between Source of Wealth and Source of Funds
• Explain why Source of Wealth and Source of Funds documentation is required
• Understand the significance of documenting and verifying the Source of Wealth (SoW) and Source of Funds (SoF) during client onboarding processes.

Requisitos

• No previous experience required