KPMG India KYC Analyst Interview Questions and Answers

PEP stands for Politically Exposed Person. They are individuals who hold a prominent public position or have close associations with such individuals.

• PEPs are considered high-risk customers due to their potential involvement in corruption, money laundering, and other financial crimes.

• Examples of PEPs include government officials, heads of state, and senior executives of state-owned enterprises.

• Other threats in the KYC process include individuals or entities involved in terror...read more

AML is Anti-Money Laundering, a set of laws, regulations, and procedures to prevent illegal activities like money laundering and terrorism financing.

• AML is a regulatory framework that financial institutions must follow to prevent money laundering and terrorist financing.

• It involves identifying and verifying the identity of customers, monitoring transactions, and reporting suspicious activities.

• CDD (Customer Due Diligence) is the process of verifying the identity of a customer...read more

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, and asset freezes.

• Sanction screening involves checking indiv...read more

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 the risk of illegal intentions of customers.

• AML involves mo...read more

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

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 due diligence, transaction monitoring, and reporting of sus...read more

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 learning.

• Examples of ML applications include recommendatio...read more