Ujjivan Small Finance Bank AML and KYC Officer Interview Questions and Answers for Experienced

AML and KYC are measures taken by financial institutions to prevent money laundering and ensure customer due diligence.

• AML stands for Anti-Money Laundering and refers to the set of laws, regulations, and procedures that financial institutions must follow to prevent, detect, and report money laundering activities.

• KYC stands for Know Your Customer and refers to the process of verifying the identity of customers and asses...read more

KYC is important to prevent financial crimes, ensure customer trust, and comply with regulatory requirements.

• KYC helps in identifying and verifying the identity of customers to prevent money laundering, terrorist financing, and other financial crimes.

• It helps in building customer trust by ensuring that the financial institution is taking necessary steps to protect their interests and prevent fraud.

• KYC is crucial for re...read more

To ensure customer profile and transactions match, we verify the customer's identity, analyze their transaction history, and monitor for any suspicious activity.

• Verify customer's identity through KYC procedures

• Analyze transaction history for consistency and patterns

• Monitor for any suspicious activity or red flags

• Compare transaction details with customer profile information

• Use data analytics tools to identify anomalies