Source of Wealth / Source of Funds (SOW / SOF)

Source of Wealth (SOW)

Refers to the origin of the customer’s entire body of wealth.

Examples of SOW:

• ownership of a business
• employment
• inheritance
• investments

Source of Funds (SOF)

Refers to the origin of the particular funds or any other monetary instrument which are the subject of the transaction between a Financial Institution and the customer.

Alternatively, another definition of SOF is the origin and means of transfer of monies that are accepted for the account.

Examples of SOF:

• Funds are from a saving account owned by parents
• Funds are from Singapore bank account owned by a company