KPMG India AML Analyst Interview Questions, Process, and Tips for Experienced

AML related and Aptitude questions

Q1. What is Cooperative bank?
Ans. 
Cooperative bank is a financial institution owned and operated by its members to provide banking services.
• Owned and operated by its members

• Provides banking services

• Focuses on serving the needs of its members and community
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Q2. Explain hawala?
Ans. 
Hawala is an informal system of transferring money without actually moving it, often used in countries with limited banking infrastructure.
• Hawala involves transferring money through a network of brokers or agents.

• Transactions are based on trust and often involve minimal documentation.

• It is commonly used in countries where formal banking systems are not easily accessible.

• Hawala can be used for legitimate purposes such a...read more
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Q3. Explain Sanctions? example countries
Ans. 
Sanctions are penalties imposed by one country on another for various reasons, such as human rights violations or nuclear proliferation.
• Sanctions can include trade restrictions, financial penalties, travel bans, and arms embargoes.

• Examples of countries facing sanctions include North Korea, Iran, Russia, and Venezuela.

• Sanctions are often used as a diplomatic tool to pressure countries into changing their behavior.
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Q4. About OFAC, FATCA
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Q5. Explain PEP and examples
Ans. 
PEP stands for Politically Exposed Person, refers to individuals who are or have been entrusted with prominent public functions.
• PEPs are considered higher risk for potential involvement in bribery, corruption, and money laundering due to their position of influence.

• Examples of PEPs include government officials, heads of state, senior politicians, and high-ranking military officers.

• Financial institutions are required to...read more
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Q6. Some general questions to check communications
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