Podcast
Questions and Answers
What is the primary objective of Customer Due Diligence?
What is the primary objective of Customer Due Diligence?
- To provide a summary of the investigation
- To identify and verify customers and assess their risks (correct)
- To classify customers based on their products and services
- To monitor transactions
What is the relation between Customer Due Diligence and the Act on the prevention of money laundering and financing of terrorism?
What is the relation between Customer Due Diligence and the Act on the prevention of money laundering and financing of terrorism?
- CDD is a process used by companies that are exempt from the Act
- CDD is a process used by companies that want to comply with the Act
- CDD is an optional process for companies that are not subject to the Act
- CDD is a mandatory process for companies that are subject to the Act (correct)
Which of the following is NOT a type of institution that is subject to the Act on the prevention of money laundering and financing of terrorism?
Which of the following is NOT a type of institution that is subject to the Act on the prevention of money laundering and financing of terrorism?
- Banks
- Insurance companies
- Law firms
- Retail stores (correct)
What is the outcome of a Customer Due Diligence investigation?
What is the outcome of a Customer Due Diligence investigation?
What is the main focus of Transaction Monitoring?
What is the main focus of Transaction Monitoring?
What is the purpose of the risk classification in Customer Due Diligence?
What is the purpose of the risk classification in Customer Due Diligence?
What is the primary goal of the CDD analyst?
What is the primary goal of the CDD analyst?
What is the purpose of the Onboarding process in Customer Due Diligence?
What is the purpose of the Onboarding process in Customer Due Diligence?
What initiates an Event Driven Review?
What initiates an Event Driven Review?
What is the role of the CARC committee?
What is the role of the CARC committee?
What is the purpose of the Client Exit process?
What is the purpose of the Client Exit process?
What is the difference between Onboarding and Periodic Review?
What is the difference between Onboarding and Periodic Review?
What type of investigation is conducted when a client's risk rating is high or unacceptable?
What type of investigation is conducted when a client's risk rating is high or unacceptable?
What is the purpose of the CDD analyst's investigation?
What is the purpose of the CDD analyst's investigation?
What is the role of the relationship manager in the Customer Due Diligence process?
What is the role of the relationship manager in the Customer Due Diligence process?
What are the four different work streams in Customer Due Diligence?
What are the four different work streams in Customer Due Diligence?
What is the primary purpose of a simplified client due diligence investigation?
What is the primary purpose of a simplified client due diligence investigation?
In which scenario would a standard investigation be conducted?
In which scenario would a standard investigation be conducted?
What is the primary difference between a standard investigation and an enhanced due diligence investigation?
What is the primary difference between a standard investigation and an enhanced due diligence investigation?
What is the outcome of an enhanced due diligence investigation?
What is the outcome of an enhanced due diligence investigation?
Which of the following is an example of a client that would require an enhanced due diligence investigation?
Which of the following is an example of a client that would require an enhanced due diligence investigation?
What is the primary goal of an anti-money laundering obligated institution when conducting a client due diligence investigation?
What is the primary goal of an anti-money laundering obligated institution when conducting a client due diligence investigation?