Recollected questions of exam conducted on 28.06.2020
Defination of ML as per United Nations- identify correct one
What type of impact ML cause- social, economic, political
Difference between ML and TF- Identify correct one
Cycle of ML- Including case studies to identify which step is mentioned
Method of ML- Including case studies to identify which method is used
What is smurfing, shell companies, off shore banking, hawala system,mutual evaluation, correspondent banking
Palermo convention
which ML laws or act is used in which country
PMLA- Record maintenance, punishment, penalties,
UAPA offence
Role of national investigation agency, role of ED,
Categories of US sanction
Elements of KYC police,
Definition of customer as per RBI
Concept of beneficiary owner, Identify invalid OVD, Restrictions on small account, which OVDs is to be obtained for proprietary account, partnership account, trust account, PEP, pooled account, limitations for non face to face customer
for whom EDD should be done - including case studies, how to screen customer, periodicity of KYC for various risk categories,
When to go for Partial freezing of account, types of reporting to be done, limit of CTR, time limit of STR, What is white listing,
Role functions of PO, senior management, role of audit, at what level KYC training is important
