KYC AML Recollected Questions and Exam Tips

AMLKYC   Recollected Questions and Exam Tips::::



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

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