100Pillars Constructions Interview Questions and Answers

KYC stands for Know Your Customer, EDD stands for Enhanced Due Diligence, and CDD stands for Customer Due Diligence.

• KYC is the process of verifying the identity of a customer to prevent fraud and money laundering.

• EDD is a more thorough version of KYC that involves additional checks for high-risk customers.

• CDD is the process of assessing the risk of a customer and determining the appropriate level of due diligence.

• Examples of KYC include verifying a customer's identity through...read more

Money laundering is the process of making illegally obtained money appear to be legitimate.

• It involves disguising the source of funds through a series of transactions.

• The purpose is to hide the illegal origin of the money and make it usable without detection.

• Common methods include using shell companies, offshore accounts, and cash businesses.

• Examples include drug trafficking, embezzlement, and tax evasion.

• Money laundering is a serious crime that can result in hefty fines and ...read more

Money laundering involves several steps to disguise the origins of illegally obtained funds.

• Placement: Introducing illegal funds into the financial system.

• Layering: Conducting complex financial transactions to obscure the audit trail.

• Integration: Reintegrating laundered funds back into the legitimate economy.

• Examples: Buying expensive assets, using shell companies, transferring funds through multiple accounts.

Red flags in AML include unusual transactions, inconsistent customer behavior, high-risk jurisdictions, lack of proper documentation, and frequent cash transactions.

• Unusual transactions: Large, frequent, or unexplained transactions may indicate money laundering.

• Inconsistent customer behavior: Sudden changes in transaction patterns or customer information can be a red flag.

• High-risk jurisdictions: Transactions involving countries known for money laundering activities are suspi...read more

Red flags in AML refer to suspicious activities or behaviors that may indicate money laundering or terrorist financing.

• Unusual transactions or patterns, such as frequent large cash deposits or withdrawals

• Lack of a logical business explanation for transactions

• Use of shell companies or nominee accounts to obscure the true source of funds

• Customer reluctance to provide identification or other required information

• Transactions involving high-risk countries or politically exposed pe...read more

The transactions limit in India per day varies depending on the type of transaction and the bank's policies.

• Different banks have different daily transaction limits for various types of transactions such as ATM withdrawals, online transfers, and POS transactions.

• For example, State Bank of India has a daily ATM withdrawal limit of Rs. 40,000 for classic debit card holders.

• Some banks may allow customers to increase their daily transaction limits by contacting customer service or...read more

Pep is a term commonly used to refer to energy, enthusiasm, or liveliness.

• Pep can refer to a person's high energy or enthusiasm levels.

• It can also refer to a type of seasoning or condiment, such as lemon pepper or chili pepper.

• In sports, pep can refer to a team's spirit or motivation to perform well.

• Pep can also be used in marketing to describe a promotional campaign or event aimed at generating excitement.