TLDR: Thirdfort's Source of Funds report enhances anti-money laundering compliance, fraud protection, and transparency. It includes a Visual Overview & Summary of clients' funding sources, a Red Flag Summary to identify risks based on responses and bank data, and a 6-month Account Overview highlighting transactions, large deposits, and affordability insights. This tool streamlines information gathering and risk mitigation.
The Source of Funds report
Thirdforts Source of Funds report offers numerous advantages for you and your clients, including improved compliance with anti-money laundering regulations and increased protection against fraudulent activities. This tool also enhances transparency and trust between service providers and clients, while making information gathering more efficient and comprehensive. The report includes the following sections:
- Visual Overview & Summary
- Red Flag Summary
- 6 Month Account Overview
Visual Overview & Summary
Thirdfort's visual overview provides an easy-to-read breakdown of your clients' source of funds questionnaire answers.
The summary breaks down these answers and provides more information about each individual source selected by your client.
Red Flag Summary
Thirdfort's red flag summary is designed to help you mitigate risk and pretect against money laundering. The report includes a summary of red flags identified by Thirdfort, based on your clients responses and bank data.
6 Month Account Overview
The 6-month account overview provides a one-page summary of your clients linked or uploaded bank statements. It instantly highlights:
- Money moving between your clients' accounts
- Large deposits
- Insights into your clients affordability
Thirdfort also highlights the largest cash, recurring and one-off transactions from the last 12 months across all accounts for both inbound and outbound transactions.
This article is based on accessing Thirdfort directly via our portal. If you access Thirdfort via a partner or reseller, functionality may differ.