KYC AML PPT Officers 24-25

In KYC area OVD stands for:

• Oracle Virtual Directory

• Officially valid documents

• Optical Variable Device

• Obsessive Vampire Disorder

What is the second stage of ML process?

• Layering

• Placement

• Integration

• Collection

FATF stands for:

• Financial Action Task Force

• Foreign Action Tax Force

• Fraud Activity Test Facility

• Foreign Automated Tax Facility

Financial institutions which do not have a physical presence. A relationship with these entities is prohibited unless they are bank affiliates with a physical presence.

• Shell Corporation

• Unregulated casinos

• Unclicensed banks

As per PML rules 2005, All neccessary records of transactions between Bank and customer has to be maintained for a minimum of --- years from the date of transaction

• Five Years

• Eight Years

• Ten years

• Twelve years

In India, who issues AML guidelines?

• FIU-IND

• RBI

• FATCA

• PMLA

CRS Stands for

• Common Reporting System

• Common Reporting Standards

• Currency Reporting Software

• Counterfeit currency Reporting Software

Which of the following terms is used to describe the process of sending money through multiple financial institutions to make it difficult to track?

• Placement

• Layering

• Integration

• Segregation

FIU-IND stands for

• Financial Influence Unit - IND

• Financial Intellectual Unit - IND

• Financial Interpret Unit - IND

• Financial Intelligence Unit - IND

Money laundering is a:

• Hate crime

• Financial crime

• Identity Theft crime