PayPal Risk and Compliance Analyst Interview Questions and Answers

AML process involves identifying, assessing, and monitoring risks associated with money laundering.

• Customer Due Diligence (CDD) to verify customer identity and assess risk

• Transaction Monitoring to detect suspicious activity

• Reporting suspicious activity to authorities

• Ongoing monitoring of customer activity

• Risk-based approach to determine level of due diligence required

• Training employees on AML policies and procedures

KYC stands for Know Your Customer and is a process of verifying the identity of clients. Enhanced Due Diligence is a more thorough investigation of high-risk clients.

• KYC is a regulatory requirement for financial institutions to prevent money laundering and terrorist financing

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

• EDD is a more in-depth investigation ...read more