Podcast
Questions and Answers
What is the main focus of Customer Due Diligence (CDD)?
What is the main focus of Customer Due Diligence (CDD)?
- Providing risk ratings for products and services
- Identifying and verifying the customer (correct)
- Performing Transaction Monitoring
- Conducting investigations on competitors
Which institutions are subject to the Act on the prevention of money laundering and financing of terrorism?
Which institutions are subject to the Act on the prevention of money laundering and financing of terrorism?
- Casinos and insurance companies
- Banks and law firms (correct)
- Technology companies and restaurants
- Retail stores and educational institutions
What is the purpose of conducting a CDD investigation?
What is the purpose of conducting a CDD investigation?
- To provide discounts on products and services
- To identify and verify customers for risk assessment (correct)
- To promote money laundering activities
- To enhance competition among financial institutions
What differentiates Customer Due Diligence (CDD) from Transaction Monitoring?
What differentiates Customer Due Diligence (CDD) from Transaction Monitoring?
What type of organizations are required to comply with the Act on the prevention of money laundering and financing of terrorism?
What type of organizations are required to comply with the Act on the prevention of money laundering and financing of terrorism?
How does Customer Due Diligence (CDD) help organizations understand their risks?
How does Customer Due Diligence (CDD) help organizations understand their risks?
What is the primary goal of a Customer Due Diligence analyst according to the text?
What is the primary goal of a Customer Due Diligence analyst according to the text?
What are the four different work streams in Customer Due Diligence for researching a customer?
What are the four different work streams in Customer Due Diligence for researching a customer?
What triggers an Event Driven Review according to the text?
What triggers an Event Driven Review according to the text?
What is the purpose of Periodic Review in Customer Due Diligence?
What is the purpose of Periodic Review in Customer Due Diligence?
What happens in the process of Customer Exit in Customer Due Diligence?
What happens in the process of Customer Exit in Customer Due Diligence?
Which type of due diligence would likely be conducted for a local computer store operating only in the Netherlands?
Which type of due diligence would likely be conducted for a local computer store operating only in the Netherlands?
What is the primary purpose of an Enhanced Due Diligence investigation?
What is the primary purpose of an Enhanced Due Diligence investigation?
Which type of due diligence would likely be conducted for a municipality or province in the Netherlands?
Which type of due diligence would likely be conducted for a municipality or province in the Netherlands?
What is the main difference between a Standard Due Diligence and an Enhanced Due Diligence investigation?
What is the main difference between a Standard Due Diligence and an Enhanced Due Diligence investigation?
Which type of business would likely require an Enhanced Due Diligence investigation?
Which type of business would likely require an Enhanced Due Diligence investigation?
What is the primary goal of a simplified investigation?
What is the primary goal of a simplified investigation?
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