AMLS In Action - SOF & SOW But That’s Private

AMLS in Action – Source of Funds and Wealth? But That’s Private

Fortnightly webinar series for Australian law firms
One of the most sensitive—and often misunderstood—elements of AML/CTF
compliance is verifying source of funds (SoF) and source of wealth (SoW). Many
clients feel these questions are intrusive. Many lawyers feel uncomfortable asking
them. But under Tranche 2, firms will be required to understand where client funds
come from and how wealth was accumulated—especially in higher-risk matters.
This AMLS in Action session will demystify SoF and SoW, explain when they are
required, and provide practical strategies for asking the right questions without
damaging client relationships.

What to Expect
5–10 mins: AMLS News Round-Up
Clear updates on Tranche 2 implementation, AUSTRAC communications, and global
trends relating to financial transparency and risk indicators.

20–30 mins: Main Presentation – Source of Funds and Wealth? But That’s Private
A practical, confidence-building walkthrough of SoF and SoW obligations, including:
• What Tranche 2 is likely to require in relation to SoF and SoW
• The difference between source of funds and source of wealth—and why it
matters
• When SOF/SOW must be verified (and when it doesn’t apply)
• What good evidence looks like
• How to ask for information in a sensitive, client-friendly way
• Red flags and escalation points
• How to document your reasoning to meet AUSTRAC expectations

20 mins: Ask Me Anything
Your opportunity to ask about challenging clients, sensitive conversations, high-risk
scenarios, or how to evidence SoF/SoW proportionately.

Who should attend
Partners, practice managers, compliance officers, MLROs, fee earners, and anyone
involved in onboarding or managing client relationships.

Why attend
To gain clarity and confidence in handling SoF and SoW queries—reducing risk,
protecting your firm, and maintaining strong client relationships.

We kindly request that registrations be made using a work email address. This helps us to ensure the content and discussions are directly relevant to our intended audience and maintains the integrity of the event for genuine delegates.