Conveyancers must deal with a rising tide of regulation as efforts to tackle financial crime increase. Complying with these obligations to verify the source of a client’s funds and wealth is becoming more complicated as it becomes more critical. Many of these checks are still being carried out manually by firms through the collection of bank statements and client questionnaires.
Armalytix provides a solution to allow Millar & Bryce’s legal customers to conduct faster and more effective Source of Funds (SoF) and Share of Wealth (SoW) checks that provide greater insights and reduce your risk in transactions.
Evidence collated via Armalytix can be used to build the rationale as to how a client can fund the transaction and provide assurance that these funds were obtained through legal and visible means.
We are holding a joint webinar at 10.30am on Wednesday 11th October looking at the challenges faced by property lawyers when it comes to collecting and reviewing SoF information and how technology can help aid faster, more accurate risk-based decisions.
Share this post on social media