Knowledge Specialist

Knowledge Specialist Interview Questions and Answers

Updated 25 Aug 2024

Q1. As per OFAC list what are the sanctioned countries

Ans.

The sanctioned countries as per OFAC list include Iran, North Korea, Syria, Cuba, and Venezuela.

Ans.

KYC stands for Know Your Customer, CDD stands for Customer Due Diligence, and AML stands for Anti-Money Laundering.

KYC is a process of verifying the identity of customers to prevent fraud and money laundering.
CDD is a process of assessing the risk of a customer and verifying their identity before establishing a business relationship.
AML refers to the laws, regulations, and procedures aimed at preventing criminals from disguising illegally obtained funds as legitimate income.
E...read more

Ans.

Sanctioned countries are nations that have been subjected to economic or political restrictions by other countries or international organizations.

Sanctions are typically imposed to address issues such as human rights violations, nuclear proliferation, or support for terrorism.
Examples of sanctioned countries include Iran, North Korea, Cuba, and Russia.
Sanctions can involve trade restrictions, financial penalties, travel bans, or arms embargoes.
The purpose of sanctions is to p...read more

Ans.

Sanctions are imposed on countries as a form of punishment or pressure for violating international laws or norms.

Sanctions are a tool used by countries or international organizations to influence the behavior of a targeted country.
They can take the form of economic, trade, diplomatic, or military measures.
Sanctions are usually imposed on countries that violate international laws or norms, such as human rights abuses, nuclear proliferation, or support for terrorism.
Examples of...read more

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Ans.

BSA stands for Boy Scouts of America, a youth organization that promotes character development, citizenship, and outdoor activities.

BSA was founded in 1910 and has over 2.2 million youth members and 800,000 adult volunteers.
The organization offers programs for boys and girls, including Cub Scouts, Boy Scouts, and Venturing.
BSA is known for its outdoor activities, such as camping, hiking, and water sports.
The organization also promotes community service and leadership developm...read more

Ans.

KYC processes include customer identification, due diligence, and risk assessment to prevent financial crimes.

Customer identification: verifying the identity of the customer through documents like ID cards, passports, or utility bills
Due diligence: assessing the customer's background, financial history, and risk profile
Risk assessment: evaluating the potential risks associated with the customer, such as money laundering or terrorist financing

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