FIN.

Wolfsberg Group publishes SOW and SOF FAQs

The Wolfsberg Group has published FAQs on how Financial Institutions can identify, mitigate and manage money laundering risks by undertaking Source of Wealth and Source of Funds checks on relevant customers, when required by applicable regulation. 

The document is primarily aimed at Financial Institutions’ Private Banking/Wealth Management customer segments and the Group hopes it will contribute to more effective financial crime risk management across the sector.

Amelia Green