Brighty App is committed to complying with Anti-Money Laundering (AML) regulations by verifying the legitimacy of funds transferred or held in accounts. To meet SOF or SOW requirements, you must provide documents that evidence the source of your funds or accumulated wealth. Below is a guide to the types of documentation required and their relevant examples.
When might Brighty ask for SOF or SOW?
We may request Source of Funds (SoF) or Source of Wealth (SoW) documentation as part of our standard compliance checks. This helps us understand where the funds in your account come from (for example, salary, savings, or investments) and, in some cases, the origin of your overall wealth.
What is the difference between SOF and SOW?
Source of Funds (SOF)
Source of Funds refers to the specific origin of the money used for a particular transaction or account activity. In simple terms, it answers the question: Where did these funds come from?
Examples:
salary paid into your bank account
proceeds from a property sale
dividends
inheritance received
savings accumulated in your bank account
Source of Wealth (SOW)
Source of Wealth refers to how your total wealth was built up over time. In simple terms, it answers the question: How did you accumulate your overall wealth?
Examples:
long-term employment income
business ownership or company profits
investments built up over time
inheritance or family wealth
sale of major assets
General Document Requirements
Ensure all documents are clear, legible, and up to date.
Provide original documents where possible - screenshots are not acceptable.
Ensure documents show your name and clearly link the funds to their origin.
If necessary, redact non-essential or sensitive personal information not required for verification.
Categories of Acceptable Documentation
You can provide documents from the following categories based on your specific circumstances:
1. Employment Income
Recent payslips
Employment contract indicating salary
Bank statements showing salary credits
2. Inheritance
Probate documents
A copy of the will
Confirmation of inheritance from an executor
Related bank statements showing receipt of inheritance funds
3. Divorce Settlement
Court order or settlement agreement
Bank statements reflecting the receipt of settlement funds
4. Sale of Property
Sale/purchase agreement
Completion or closing statement
Bank statement showing proceeds from the sale
5. Company Dividends
Dividend vouchers
Company resolutions approving the dividends
Bank statement reflecting receipt of dividend funds
6. Lottery/Gambling Winnings
Official payout confirmation from the provider
Gambling account statement showing the win, withdrawal, and receipt of funds
Bank statement or payment account reflecting the payout
7. Savings/Deposits
Historical bank statements showing consistent accumulation of savings
Bank statement for the account transferring funds to Brighty App
8. Compensation Awards
Award or settlement letter from the payer
Documents indicating bank transfer or payment of the compensation
9. Gifts/Charity Donations
Signed document from the donor stating the gift amount
Proof of the donor’s source of funds to validate the legitimacy
Why should I submit ?
By submitting the relevant documentation applicable to your circumstances, you can ensure compliance and avoid delays when using the Brighty App. For further assistance, feel free to contact support or refer to Brighty App’s detailed AML policy guidelines.