Lycatel Business Outsourcing Solutions AML Analyst Interview Questions and Answers

Sanctions are penalties imposed by governments or international organizations to restrict certain activities or transactions with specific individuals, entities, or countries.

• Sanctions can include financial restrictions, trade embargoes, travel bans, and asset freezes.

• Types of sanctions include economic sanctions, diplomatic sanctions, military sanctions, and sports sanctions.

• Examples of sanctions include the United Na...read more

UBO can be identified by conducting thorough due diligence and research to determine the ultimate beneficial owner of a company or entity.

• Reviewing corporate documents such as shareholder agreements, articles of incorporation, and organizational charts

• Conducting interviews with key personnel to understand ownership structure

• Utilizing public databases and registries to gather information on ownership

• Analyzing financial ...read more

EDD stands for Enhanced Due Diligence while CDD stands for Customer Due Diligence. EDD is a more thorough investigation process compared to CDD.

• EDD (Enhanced Due Diligence) is a more detailed and comprehensive investigation process compared to CDD (Customer Due Diligence).

• EDD is typically conducted for high-risk customers or transactions that require a higher level of scrutiny.

• CDD is a standard process of verifying the...read more