NTT DATA Business Solutions Senior Operations Professional Interview Questions, Process, and Tips for Experienced

Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.

• Money laundering involves disguising the origins of illegally obtained money.

• It typically involves a series of transactions to make the money appear legitimate.

• Money laundering can involve complex financial transactions and...read more

KYC (Know Your Customer) is a process used by financial institutions to verify the identity of their clients and assess potential risks of illegal activities.

• KYC helps prevent fraud, money laundering, and terrorist financing.

• It ensures compliance with regulations and helps build trust with customers.

• KYC involves collecting and verifying customer information such as identity, address, and financial transactions.

• Examples...read more

Stages to prevent money laundering involve customer due diligence, monitoring transactions, reporting suspicious activities, and ongoing training.

• Customer due diligence - Verify customer identity and assess risk level

• Transaction monitoring - Regularly review transactions for suspicious activities

• Reporting suspicious activities - Report any suspicious transactions to authorities

• Ongoing training - Provide training to emp...read more

Anti money laundering (AML) refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

• AML involves detecting and reporting suspicious activities that could be related to money laundering or terrorist financing

• Financial institutions are required to have AML programs in place to comply with regulations

• Examples of AML measures include c...read more

Identification allows for personalized services, targeted marketing, enhanced security, and efficient communication.

• Personalized services: Identification helps businesses tailor their products or services to meet individual customer needs.

• Targeted marketing: Knowing the identity of customers allows for more effective marketing strategies.

• Enhanced security: Identification helps prevent fraud and unauthorized access to s...read more