Shivalik Small Finance Bank Business Analyst Interview Questions and Answers for Experienced

The three stages of money laundering are placement, layering, and integration.

• Placement involves introducing illegal funds into the financial system, often through small transactions to avoid detection.

• Layering involves moving the funds through a series of complex financial transactions to make tracing difficult.

• Integration involves reintroducing the laundered funds into the legitimate economy, often through investment

Transaction monitoring is the process of reviewing and analyzing transactions to detect and prevent fraudulent activities.

• Transaction monitoring involves continuously monitoring transactions for any suspicious or unusual activity.

• It helps in identifying patterns and trends that may indicate fraudulent behavior.

• By setting up alerts and thresholds, transaction monitoring can help in detecting and preventing fraud in real...read more

KYC stands for Know Your Customer, 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 such as name, address, and identification documents.

• KYC also includes verifying the source of funds and assessing the risk associated with a customer.

• Failure to comply with KYC regulations can...read more

KYC stands for Know Your Customer, 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 like ID cards, passports, etc.

• KYC also includes assessing the risk of a customer to ensure compliance with anti-money laundering regulations

• Failure to comply ...read more