Overview
A Source of Funds request collects two types of information from your client: their responses to the Source of Funds questionnaire, including their declared source of funds and the amount they are contributing, and their bank statement data. Together, these form the evidence used to support your firm's AML review.
What information is requested for each source
Click each source to open.
Savings
Savings
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Where do these savings come from? (Employment, Self-employment, Pension or retirement, or Another source)
Employment: What is your annual salary? and How does your salary appear on your bank statement?
Pension or retirement: Do you claim a pension? (Yes/No)
Another source: Tell us more about where these savings come from
Supporting evidence: A recent bank statement or payslip showing these savings.
Property sale
Property sale
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
Address of the property
The solicitors handling the sale (name and address)
Supporting evidence: The sale agreement, completion statement and a bank statement showing the proceeds.
Mortgage or remortgage
Mortgage or remortgage
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
Address of the property
Your lender (name and address)
Supporting evidence: The mortgage offer letter, mortgage statement and completion statement.
Gift
Gift
Does this money need to be repaid? (Yes/No)
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
The person providing the funds: their name, their relationship to the client, their email address and their address
Supporting evidence: A letter from the person making the gift.
If the client answers Yes to "Does this money need to be repaid?", they are told it is a loan and asked to add it as a Loan source instead.
Investments, stocks & shares or ISA
Investments, stocks & shares or ISA
What type of investment did you sell?
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
Supporting evidence: A statement or contract note showing the sale.
Inheritance
Inheritance
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
Tell us about the estate, including who the client inherited from and their relationship to them
Supporting evidence: A copy of the will or a letter from the executor.
Loan
Loan
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
The person providing the funds: their name, their relationship to the client, their email address and their address
Supporting evidence: The loan agreement.
Other
Other
Describe this source of funds
How much of the transaction will this cover?
Do any of these funds come from outside the UK? (Yes/No)
Have you received this money yet? (Yes/No)
Supporting evidence: Any document that evidences this source.
ℹ️ Important
For every source where 'Yes' is selected to confirm the funds have been received, a prompt to connect a bank account or upload statements for that source will appear at the next stage of the request.
If the client has uploaded minimal information, they will be prompted to add any additional details or evidence.
Bank statement evidence
Clients are asked to provide bank statement evidence alongside their questionnaire responses. They can do this in one of two ways:
Open banking: the client connects their bank account directly, providing real-time, verified transaction data. Legl presents this option first.
Manual upload: the client enters their account details and uploads their bank statements. PDFs and image files are accepted. If they cannot connect via open banking, or prefer not to, they can use this option instead.
Your firm can configure the historic statement range to 3, 6, 12 or 24 months. By default, this is set to 12 months.
For both methods, Legl's AI analysis automatically extracts the following from the client's bank statements:
Regular incoming transactions: recurring salary payments, standing orders, and other income streams
Regular outgoing transactions: recurring outgoings across accounts
Largest one-off transactions: significant individual credits or debits
Account balance trends: how balances have changed across accounts over the statement period
Higher-risk transactions: activity associated with elevated risk, such as non-GBP deposits, cash transactions, or cryptocurrency activity
ℹ️ Important
Where analysis cannot be completed, the review will display a message indicating that manual review is required.
24 months of bank statements is only pulled where the bank of the individual allows for it.
Clients may also upload supporting documents, such as a mortgage offer letter or property purchase documents, where these are directly relevant to their source of funds. These document types cannot be analysed by the AI but may be used as supporting evidence.
Where a client connects via open banking and Legl detects high-risk transactions, Legl may automatically send the client follow-up questions (SoF Signals). Their responses are included in the Source of Funds review.
ℹ️ Further guidance
For how to interpret the Source of Funds review once a client has submitted, see:
Open banking transaction data
When a client connects their bank account via open banking, Legl retrieves their transactions over the required period. Transactions are organised using a classification system that assigns a category and subcategory to purchase-related activity, giving additional context to each transaction and helping your firm more efficiently understand the nature of incoming and outgoing funds.
Transaction classification is currently supported for banks in the UK, Ireland, and France.
Important information
The historic statement range (3, 6, 12 or 24 months) is configured by your firm in the workflow settings. The default is 12 months.
24 months of bank statements is only pulled where the bank of the individual allows for it.
AI analysis applies to both open banking and manual uploads. Where analysis cannot be completed, the review will indicate this and prompt manual review.
SoF Signals automated follow-up questions apply to open banking submissions only. Clients who upload bank statements manually will not receive them.
Supporting documents uploaded alongside a bank statement, such as mortgage offer letters, cannot be analysed by the AI but may be used as supporting evidence.
Legl does not make compliance decisions. Assessing whether the evidence is sufficient for your firm's AML obligations is your firm's responsibility.