Overview
SoF Signals is a feature within Legl's Source of Funds that automatically detects high-risk or unusual transactions in a client's open banking data and sends the client targeted follow-up questions to explain them, without any action required from your firm.
This means your firm receives an explanation for flagged transactions as part of the completed Source of Funds review, without needing to identify the transactions manually or chase the client directly.
What triggers a Signal
Legl analyses the client's open banking transaction data once it is connected. A Signal is triggered when the system identifies transactions associated with elevated risk, including:
Large cash deposits
Non-GBP transactions
Cryptocurrency activity
Other unusual patterns in account activity
ℹ️ Important
SoF Signals only applies to clients who have connected their bank via open banking. Clients who upload a PDF bank statement manually will not receive automated follow-up questions.
What the client receives
Where a Signal is triggered, the client receives an automatic message containing targeted questions about the flagged transactions. They respond through the same secure link used for the original Source of Funds request.
The client does not need to contact your firm to respond. Legl automatically handles the follow-up communication on your behalf while the client is completing the request.
Where Signals responses appear
The client's responses to SoF Signals questions are included automatically in the Source of Funds review in Legl. They appear alongside the rest of the evidence: the questionnaire responses, bank statement data, and AI analysis, so your firm can assess everything in one place.
What your firm needs to do
Your firm does not need to do anything to trigger or manage SoF Signals. The process is fully automated. Your firm's role is to review the client's responses as part of the overall Source of Funds evidence once the review is complete.
You do not need to:
Identify high-risk transactions manually
Contact the client to request explanations for flagged activity
Chase the client for follow-up responses
Important information
SoF Signals applies to open banking submissions only. It does not apply to manual PDF bank statement uploads.
Signals responses are included in the Source of Funds review automatically. No action is needed from your firm to retrieve them.
Receiving a Signals response does not constitute a compliance determination. Your firm must still assess the client's explanation as part of your AML review.