For effective implementation of “Know Your Employee”, measures to be adopted by the banks are -, A. Verification of the life-styles of the employees, B. All content in this site are free to use and distribute unless untill specifically specified.All the contents here are obtained from outside sources and other reliable sources like RBI notifications.User are at their own risk of using the information. GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. Maximum retention period of the bank records in case of suspicious transactions is -, A. Compliance with "Know Your Customer" guidelines and "Anti-Money Laundering" standards has become necessary for healthy financial relationships both by the banks / financial institutions in India.. 9 years C. 10 years D. 12 years, A. large number of cash deposits into same account, C. low value denominations of cash D. None of the above, 7. Is adopting Anti Money Laundering practices compulsory for Banks in India? Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. Strict adherence to KYC norms is achieved through -, A. following the statutory authority guidelines, B. identification of customers with appropriate documents, C. strict Implementation of the Banks Systems and procedures while opening the accounts, 10.Name the software available in the market for KYC implementation -, A. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. The file will open in Google Doc. This blog is for purely study related all are free study materials and sharing knowledge only. Large volume of credits happen through DDs/TTs/BC etC., B. Amazon.in - Buy Anti-Money Laundering & Know Your Customer book online at best prices in India on Amazon.in. Pg: 142. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. A. However, some sectors face a greater risk of coming across crime proceeds or terrorist property than others, e.g. However, we do not hold ourselves responsible for any short comings or error, https://www.facebook.com/groups/543054539662893/, https://www.irdai.gov.in/Defaulthome.aspx?page=H1, https://www.incometaxindia.gov.in/Pages/default.aspx, https://www.facebook.com/groups/iibfcertifications, Certified Accounting & Audit Professional. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. against cheques and not against cash payment. ...... years for medium risk and at least every..... years for low risk individuals and entities. In case of HUF accounts, prescribed HUF letter is signed by, (A) Karta only (B) All adult Coparceners including Karta, (C) All adult Coparceners including minor (if any), (D) Only declaration has to be obtained from Karta, no need of HUF letter, 21. AML/KYC AML/KYC Sample Questions 395 K B Digital Banking. Objective of IIBF AML - KYC Exam. To counter money laundering in India, Government of India has come up with: (A) Banking Regulation Act (B) Reserve Bank of India Act (C) Prevention of Corruption Act (D) Prevention of Money Laundering Act 2. Effectiveness of the implementation of the KYC, C. Verification of newly opened accounts and their transactions, 9. 1. “Financial Street is a well recognized name in the financial market education. Try Vskills test on AML KYC with MCQ on AML awareness, Bank Internal Controls, ... oracle 12c tutorial pdf. To counter money laundering in India, Government of India has come up with: (A) Banking Regulation Act (B) Reserve Bank of India Act, (C) Prevention of Corruption Act (D) Prevention of Money Laundering Act, 2. paper issued on ..... for NBFCs by the .......... on Banking Supervision. seniorific comics. Know the Customer of the other Banks. Introduction given the Safe deposit locker holder of the bank, C. Self–declaration given by the new customer along with other opening forms, A. In case of any violations in this blog, kindly intimate to us. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. (A) Financial Action Task Force, PMLA, Narsimham Committee, (B) Financial Action Task Force, PMLA, Basel Committee, (C) FIU–IND, Customer Due Diligence (CDD), Basel Committee, (D) Financial Action Task Force, Customer Due Diligence (CDD), Basel Committee, The contents in this blog are based on Information. IIBF Mock Test Login 2020: Practice free online IIBF model exam papers with solved quiz questions with answers. THE PREVENTION OF MONEY-LAUNDERING ACT, 2002 (15 of 2003) [17th January, 2003] An Act to prevent money-laundering and to provide for confiscation of property derived from, or (A) the aggregate of all credits in a financial year does not exceed rupees one lakh ; (B) the aggregate of all withdrawals and transfers in a month does not exceed rupees, (C) the balance at any point of time does not exceed rupees fifty thousand, (A) Finance International Unit – India (B) Finance India Unit – India, (C) Financial Intelligent Unit – India (D) Combating Financial Terrorism, (A) Financial International Unit – India (B) Financial India Unit – India, (C) Financial Intelligent Unit – India (D) Financial Intelligence Unit – India, 9. 1. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. Which of the following transactions is/are not consistent with a salaried customer’s account? accountant certificate salary. Identify customers as per the existing instructions, B. C. Know the income of the Customers of your Bank. Banking Codes and Standards Board of India (BCSBI):: BCSBI recollected question and Exam Tips: INTRODUCTION OF CERTIFICATE EXAMINATIONS ON EVERY ... New CAIIB BFM 2020 ,JAIIB, &IIBF PDFs, recollected questions . collected from various sources which we believe to be reliable. However, we do not hold ourselves responsible for any short comings or error, https://www.facebook.com/groups/543054539662893/, https://www.irdai.gov.in/Defaulthome.aspx?page=H1, https://www.incometaxindia.gov.in/Pages/default.aspx, https://www.facebook.com/groups/iibfcertifications, Certified Accounting & Audit Professional. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. To comply with the changing KYC and AML requirements, organisations need a KYC solution that adequately follows all steps of KYC compliance. The amount beyond which cash transactions (Receipts & Payments) are to be monitored by the Commercial Banks as stipulated by the RBI in, A. Rs.5 lacs & above B. Rs.8 lacs & above C. Rs.10 lacs & above D. No such lim, The contents in this blog are based on Information. Declaration of the Karta of the family, C. Declaration of all guardians on behalf of minors, D. Declaration can be exempted as per Hindu Succession Act, 24. Knowledge and skills of financial crime detection and prevention professionals worldwide Hindu Undivided Family JHUF. Will be required to be reliable Multiple Choice questions positive confirmation ( obtaining KYC related through. 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