AML AND KYC RECOLLECTED QUESTION

AML KYC Recollected questions- shared by Aravind S

Kindly focus on case studies in Macmillan, international organization for AML, FATF latest
recommendations,PMLA act latest developments, Reports sent to FIU_IND

1.high medium low risk categories kyc review period 3 questions came directly
2.Gave example of transactions and asked wat type of money laundering is that-funnel accts,deposit
structuring,multiple tier account 3ques
3.IBA study group paper published 3 questions from that
4.Placment,layering, integration 1 case study each topic
5.hawala is wat type of ml
6.ml word is coined by the guardian in -watergate scandal
7.FIU IND based questions 6-8
8.5-7case studies one came from text book itself
9.OVD based questions 3
10.given options with type of customer and the documents they submit and asked which customer is
eligible for opening sb
11.reporting entity have-designated director
12.designated director is appointed by
13.report submission questions 3
STR within 7 days
CTR within 15th of next month
14.kyc policy is revised by n within
15.key elements of STR

Review of 28th Jan 2018 exam:

All 2 marks from case studies.

(Placement
Layering
Integration)
Funnel account
Copy of byelaws
Trust company percentage in shars or.profits
Ration card valid or not
Money laundering acts
Str
Ccr
Ftr
Max punishment for money laundering
Wolfsburg principle
Penality for pmla maintainance of records
How many years records to be maintained
Counterfeit notes more than 5
Dormant accounts
Customer not giving info abt the account, what action we have to take
Fatf
Banks under Wolfsburg grp
Small accounts max limits

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Thresholds 3 questions
Reports around 4 to 5
Fiu ind, fatf around 5
Wire transfer direct questions like max limit, originator information
Front company
Red flag indicator
Risk category 3 questions around
Some direct questions like
Customer definition in kyc norms
Key elements in kyc policy
Non profit organization
Ckycr
Company trust partnership

Overall if we go though MacMillan book it's good enough to clear the exam..
Case studies are scoring part

Hope you like it. Happy reading 

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