Deloitte KYC Executive Interview Questions and Answers

Round 1 of the kpmg aptitude test typically covers basic kyc, verbal, and logical reason

Q1. What is KYC and AML?
Ans. 
KYC stands for Know Your Customer and AML stands for Anti-Money Laundering. They are regulatory processes to verify the identity of clients and prevent illegal financial activities.
• KYC is the process of verifying the identity of customers to ensure they are who they claim to be.

• AML is the set of procedures, laws, and regulations designed to prevent money laundering by criminals.

• KYC helps financial institutions assess t...read more
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Q2. What is sanctions and sanction screening?
Ans. 
Sanctions are penalties imposed on individuals, entities, or countries to enforce international laws or policies. Sanction screening is the process of checking individuals or entities against sanction lists to ensure compliance.
• Sanctions are penalties imposed on individuals, entities, or countries for violating international laws or policies.

• Sanctions can include financial restrictions, trade embargoes, travel bans, an...read more
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Q1. What is your family background?
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Q2. Why should we hire you?
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Q3. Tell me about yourself.
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Q4. Tell me why your are different from another candidate
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Q1. Basics of KYC but they focus mainly on communication
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Q2. They'll ask technical Questions
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Q1. Difference between UBO, BO and IBO
Ans. 
UBO stands for Ultimate Beneficial Owner, BO stands for Beneficial Owner, and IBO stands for Immediate Beneficial Owner.
• UBO is the individual who ultimately owns or controls a legal entity or arrangement.

• BO is any individual who ultimately owns or controls a legal entity or arrangement, or on whose behalf a transaction is being conducted.

• IBO is the individual who owns or controls a legal entity or arrangement and whose...read more
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Q2. Documents required to authenticate Partnership
Ans. 
Partnership documents include partnership agreement, certificate of formation, and proof of identity for partners.
• Partnership agreement outlining roles and responsibilities of partners

• Certificate of formation proving the existence of the partnership

• Proof of identity for all partners such as passports or driver's licenses
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Q3. Scenario based questions regarding ML
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Q4. What are the regulators for AML, KYC and CTF?
Ans. 
Regulators for AML, KYC and CTF include FinCEN, FATF, and local regulatory authorities.
• Financial Crimes Enforcement Network (FinCEN) - U.S. regulatory agency responsible for combating money laundering and terrorist financing.

• Financial Action Task Force (FATF) - International organization that sets standards and promotes effective implementation of measures to combat money laundering and terrorist financing globally.

• Loc...read more
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Q5. How to identify fake passports of UK
Ans. 
Fake UK passports can be identified by checking for security features, examining the passport's physical characteristics, and verifying the information against official databases.
• Check for security features such as holograms, watermarks, and UV features.

• Examine the passport's physical characteristics like the quality of printing, font consistency, and overall construction.

• Verify the information on the passport against ...read more
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Q6. What are sanctions
Ans. 
Sanctions are penalties or restrictions imposed on individuals, entities, or countries to enforce international laws or policies.
• Sanctions can include financial restrictions, trade embargoes, travel bans, and asset freezes.

• They are often used to deter illegal activities, promote human rights, or maintain international peace and security.

• Examples of sanctions include the United Nations sanctions on North Korea, the US s...read more
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Q1. What is end to end KYC
Ans. 
End to end KYC refers to the complete process of verifying the identity of a customer from onboarding to ongoing monitoring.
• End to end KYC involves collecting and verifying customer information during the onboarding process.

• It includes conducting due diligence checks to ensure compliance with regulatory requirements.

• Ongoing monitoring is also part of end to end KYC to detect and prevent any suspicious activities.

• Exampl...read more
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Good and logical for the better understanding of the process

Q1. Self introduction and many more
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Q1. More abt process and it's applications
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It is good and nice went well

Q1. All went good overall
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Q2. What is kyc ?
Ans. 
KYC stands for Know Your Customer. It is a process used by financial institutions to verify the identity of their clients.
• KYC is a regulatory requirement to prevent money laundering and fraud

• It involves collecting personal information and verifying it through documents

• Examples of KYC documents include passport, driver's license, and utility bills
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Q1. What is AML ?
Ans. 
AML stands for Anti-Money Laundering. It is a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
• AML is a regulatory framework that aims to detect and prevent money laundering activities.

• Financial institutions are required to have AML programs in place to monitor and report suspicious activities.

• Examples of AML measures include customer d...read more
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Q2. What is ML ?
Ans. 
ML stands for Machine Learning, a subset of artificial intelligence that focuses on the development of algorithms and models that allow computers to learn from and make predictions or decisions based on data.
• ML involves training algorithms to learn patterns and make predictions or decisions without being explicitly programmed.

• Common techniques in ML include supervised learning, unsupervised learning, and reinforcement ...read more
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1 question about general topic like social media need to write essay on that topic.

Q1. What is Kyc? What is AML?
Ans. 
KYC stands for Know Your Customer, which is a process of verifying the identity of a customer. AML stands for Anti-Money Laundering, which is a set of laws, regulations, and procedures aimed at preventing criminals from disguising illegally obtained funds as legitimate income.
• KYC is a process of collecting and verifying customer information, such as name, address, and identification documents.

• KYC helps financial instit...read more
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Q2. What is OFAC and FATCA? CDD and EDD?
Ans. 
OFAC and FATCA are regulations related to financial compliance. CDD and EDD are customer due diligence and enhanced due diligence processes.
• OFAC (Office of Foreign Assets Control) is a US government agency that enforces economic and trade sanctions against countries, organizations, and individuals involved in terrorism, narcotics trafficking, and other illegal activities.

• FATCA (Foreign Account Tax Compliance Act) is a ...read more
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Q3. Regulators and Regulations? Why banks do KYC?
Ans. 
Banks do KYC to comply with regulations and prevent financial crimes.
• KYC helps banks verify the identity of their customers and assess the risk of doing business with them.

• Regulators require banks to implement KYC procedures to prevent money laundering, terrorist financing, and other financial crimes.

• KYC also helps banks maintain a good reputation and avoid legal and financial penalties.

• Examples of KYC regulations incl...read more
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Q4. Kyc effects in Financial Institutions? Identity and Verification?
Ans. 
KYC is crucial for financial institutions to prevent money laundering and terrorist financing.
• KYC (Know Your Customer) is a process of verifying the identity of customers and assessing their potential risks.

• Financial institutions are required by law to perform KYC to prevent money laundering and terrorist financing.

• KYC includes collecting personal information, verifying identity documents, and screening against sanctio...read more
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