Summary

This programme educates finance professionals on verifying the Source of Funds (SoF) in transactions, ensuring compliance with AML regulations and mitigating risks of financial crime.

This course is one of several courses within both the Certificate in Anti-Money Laundering and the Certificate in Know Your Customer. If you wish to achieve either of these awards, you must complete this course along with all other mandatory courses in the associated learning plans.

Audience

Course Objectives

• Understand the importance of verifying the source of funds in financial services.
• Identify methods and documents used to verify a customer’s source of funds.
• Apply a risk-based approach to assessing source of funds.
• Recognise common red flags that may indicate money laundering or suspicious activities related to source of funds.
• Implement best practices for documenting and reporting source of funds verification.

Course Structure

• Section 1: Introduction to Source of Funds Verification
• Section 2: Why Verifying Source of Funds is Critical in AML
• Section 3: Methods and Documents Used for Verifying Source of Funds
• Section 4: Risk-Based Approach to Source of Funds Verification
• Section 5: Common Red Flags in Source of Funds Verification
• Section 6: Best Practices for Source of Funds Verification and Documentation
• Section 7: Case Studies
• Knowledge Evaluation

Duration & CPD Hours

This course should take you between 45 and 90 minutes, depending upon your pace of learning. Additionally, this course is accredited by The CPD Certification Service and carries 1.5 CPD hours.