This applies only in higher risk cases. In practice the MLRO will assist you in assessing this as the matter will already be part of our enhanced monitoring programme. We need to know how the client generated or arrived by all its wealth. For example, we need to identify:
i) A company's main area of business, activity or customer base.
ii) A charity's primary contributors or sponsors.
iii) An individual's inheritance or sale of shares etc.
While we will help you do so where you contact us about a high-risk matter, you should note that you must record all relevant information in the source of funds note you keep on the file. Copies of supporting evidence must also be saved to the file.