WNS AML and KYC Analyst Interview Questions and Answers

Sanctions screening is the process of checking individuals or entities against government-imposed sanctions lists to prevent illegal activities.

• Involves verifying names against lists from bodies like OFAC, UN, or EU.

• Helps prevent financial crimes such as money laundering and terrorism financing.

• Example: A bank checks a new client's name against the OFAC list before opening an account.

• Sanctions can be imposed on countri...read more

Sanctioned countries are those that have been identified as posing a threat to national security or international peace.

• Sanctions are imposed on countries for various reasons such as human rights violations, terrorism support, nuclear proliferation, and aggression towards other nations.

• Examples of sanctioned countries include Iran, North Korea, Syria, and Venezuela.

• Sanctions can include trade restrictions, financial pe...read more

AML focuses on detecting and preventing money laundering activities, while KYC focuses on verifying the identity of customers.

• AML aims to identify and report suspicious activities that may indicate money laundering or terrorist financing

• KYC involves verifying the identity of customers to ensure they are who they claim to be

• AML regulations require financial institutions to have robust AML programs in place to detect and...read more