Velankani Electronics Interview Questions and Answers

FATCA stands for Foreign Account Tax Compliance Act. KYC refers to Know Your Customer. KYC is necessary to verify the identity of customers and prevent financial crimes. Sanctioned countries are those subject to international trade and economic restrictions.

• FATCA - Foreign Account Tax Compliance Act

• KYC - Know Your Customer

• KYC is essential to verify customer identity and prevent financial crimes

• Sanctioned countries are subject to international trade and economic restrictions

Corporate KYC refers to the process of verifying the identity of a company and its beneficial owners.

• It involves collecting and verifying information about the company's legal structure, ownership, and management.

• It is important for financial institutions to conduct corporate KYC to comply with regulations and mitigate risks.

• Examples of documents required for corporate KYC include company registration certificates, shareholder agreements, and board resolutions.

KYC stands for Know Your Customer. It is a process of verifying the identity of customers to prevent fraud and money laundering.

• KYC is a regulatory requirement for financial institutions and other businesses dealing with customers.

• It involves collecting and verifying customer information such as name, address, and identification documents.

• KYC helps to ensure that businesses are not unknowingly facilitating criminal activities.

• Examples of businesses that require KYC include ba...read more

Sanctions are penalties imposed by a government or international organization on a country, organization, or individual.

• Sanctions are used as a tool to influence behavior or to punish for violating international laws or norms.

• They can include trade restrictions, financial penalties, travel bans, and asset freezes.

• Examples of sanctions include the United States' sanctions on Iran for its nuclear program and the United Nations' sanctions on North Korea for its nuclear weapons p...read more

AML stands for Anti-Money Laundering. It is a set of laws, regulations, and procedures designed to prevent the generation of income through illegal activities.

• AML is a regulatory framework that aims to prevent money laundering and terrorist financing.

• It requires financial institutions to verify the identity of their customers and monitor their transactions.

• AML laws apply to a wide range of industries, including banking, insurance, and real estate.

• Examples of suspicious activi...read more