kyc interview questions and answers pdf
Is Introduction Necessary While Opening A Bank Account? The KYC procedure is to be completed by the banks while opening accounts. Yes. A copy of the marriage certificate issued by the State Government or Gazette notification indicating change in name together with a certified copy of the âOfficially Valid Documentsâ in the prior name of the person is to be furnished for opening of account in cases of persons who change their names on account of marriage or otherwise. Is It Compulsory To Furnish Aadhaar Card For Opening An Account? While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), by explicit consent, to release your identity/address through biometric authentication to the bank branches/business correspondent (BC). Question 24. The âpartial freezingâ however, would be exercised by the bank after giving you due notice. This process helps to ensure that banksâ services are not misused. It was 2 separate interview with 2 people per interview. Foreign remittances cannot be credited to such accounts. Plus, you’ll get ready-made content to add with one click. By Jeff Gillis. 50000/- and above can be issued only by way of debiting the customer’s account or against cheques. Later, even credits also would not be allowed. Question3: Why do I need to perform Anti-Money Laundering checks? IIBF AML KYC Mock Test Series 2020: Practice free online IIBF AML (Anti Money Laundering) and KYC (Know Your Customer) model exam question paper with answers and solutions. 1. 250+ Anti Money Laundering Interview Questions and Answers, Question1: What is Money Laundering? Question2: Who needs to perform Anti-Money Laundering checks? Question 12. If you do not provide your KYC documents at the time of periodic updation, bank has the option to close your account. To open a bank account, one needs to submit a âproof of identity and proof of addressâ together with a recent photograph. you may furnish Aadhaar card or any of the other five OVDs for opening an account. Thereafter, banks shall impose âpartial freezingâ by allowing all credits and disallowing all debits with the freedom to close the accounts. Sample Interview Questions with Suggested Ways of Answering Q. Why Is It Required? Since debit cards are issued only to account holders and accounts are opened only after the KYC procedure is completed, there is no need for separate KYC for issuing debit card. There is no need to undergo KYC exercise again for such transfer. Question 2. Question 22. Do Banks Inform Customers About This Risk Categorisation? If I Am Staying In Chennai But If My Proof Of Address Shows My Address Of New Delhi, Can I Still Open An Account In Chennai? If these documents also contain your address details, then it would also be accepted as âproof of addressâ. Yes, all customers who do not have accounts with the bank (known as walk-in customers) have to produce proof of identity and address while purchasing third party products from banks if the transaction is for Rs.50,000 and above. Meanwhile, the account holders can revive accounts by submitting the KYC documents. The Government of India has notified six documents as âOfficially Valid Documentsâ (OVDs) for the purpose of producing proof of identity. Question 3. Question 18. Top 10 compliance interview questions and answers 1. If the accounts are still KYC non-compliant after six months of imposing initial âpartial freezingâ banks shall disallow all debits and credits from/to the accounts, classifying them inoperative. Even as a kid, I spent hours flipping through catalogues.” Don’t just say you like it. If I Refuse To Provide Requested Documents For Kyc To My Bank For Opening An Account, What May Be The Result? initially allowing all credits and disallowing all debits while giving an option to you to close the account and take your money back). Banks may not ask such customers to submit copies of âOfficially Valid Documentsâ for periodic updation. TCS HR Interview Tips With Common Interview Questions. Yes, Demand Draft/Payment Order/Travellers Cheques for below Rs.50,000/- can be purchased against cash and such instruments for Rs. Q1).What Is Money Laundering? Information thus provided through e-KYC process is permitted to be treated as an âOfficially Valid Documentâ under PML Rules and is a valid process for KYC verification. If the document submitted by you for proof of identity does not contain address details, then you will have to submit another officially valid document which contains address details. Conclusion, answers to all questions, Revenue Compliance Officer Civil Service Exam. Question 19. Commonly Asked Interview Questions (and Answers) It is virtually impossible to predict exactly what will be asked on an interview but there are a few answers that you can prepare ahead of time. KYC is required to be done at least once in two years for high risk customers, once in eight years for medium risk customers and once in ten years for low risk customers. It is possible to transfer an account from one branch to another branch of the same bank. 6 J.P. Morgan KYC Analyst interview questions and 5 interview reviews. Question 17. Download PDF. KYC is required to be done at least once in two years for high risk customers, once in eight years for medium risk customers and once in ten years for low risk customers. Checkout Vskills Interview questions in AML KYC to prepare for your next job role. Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India. Question 7. Can I Purchase A Demand Draft/payment Order/travellers Cheque Against Cash? PAN number needs to be quoted for transactions such as account opening, transactions above Rs.50,000 (whether in cash or non-cash), etc. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. Question4: I have dealt with my clients for many years , do I still need to carry out Customer Due Diligence? How Does E-kyc Work? For Proof of Address (PoA), you may submit the following documents: Utility bill, which is not more than two months old, of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill); Bank account or Post Office savings bank account statement; Pension or family Pension Payment Orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address; Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Yes, Demand Draft/Payment Order/Travellers Cheques for below Rs.50,000/- can be purchased against cash and such instruments for Rs. , with a recent photograph, Revenue Compliance kyc interview questions and answers pdf belongs to difficult interview... 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