KYC Analyst
10+ KYC Analyst Interview Questions and Answers for Freshers
Q1. 7. What is PEP? 8. Are only politicallly exposed person a threat or are there any other threats you can relate ?
PEP stands for Politically Exposed Person. They are individuals who hold a prominent public position or have close associations with such individuals.
PEPs are considered high-risk customers due to their potential involvement in corruption, money laundering, and other financial crimes.
Examples of PEPs include government officials, heads of state, and senior executives of state-owned enterprises.
Other threats in the KYC process include individuals or entities involved in terror...read more
Q2. 4. What is AML? 5. Difference between CDD and EDD 6. What is the meaning of Due Diligence?
AML is Anti-Money Laundering, a set of laws, regulations, and procedures to prevent illegal activities like money laundering and terrorism financing.
AML is a regulatory framework that financial institutions must follow to prevent money laundering and terrorist financing.
It involves identifying and verifying the identity of customers, monitoring transactions, and reporting suspicious activities.
CDD (Customer Due Diligence) is the process of verifying the identity of a customer...read more
Q3. What is the difference between Finance and Accounting
Finance deals with managing money and investments, while accounting deals with recording and reporting financial transactions.
Finance involves making financial decisions and managing investments, such as deciding how to allocate funds and analyzing financial data to make predictions.
Accounting involves recording financial transactions, preparing financial statements, and ensuring compliance with financial regulations.
Finance is more focused on the future and making strategic ...read more
Q4. How is Due diligence decided, Type of due diligence
Due diligence is determined based on risk factors and can be categorized into different types such as basic, enhanced, and ongoing due diligence.
Due diligence is decided based on the risk associated with the client or transaction.
Types of due diligence include basic due diligence, enhanced due diligence, and ongoing due diligence.
Basic due diligence involves verifying the identity of the client and assessing the risk level.
Enhanced due diligence is conducted for high-risk cli...read more
Q5. If i give you 10 lakh rupee, help me to launder.
I would never participate in any illegal activities, including money laundering.
Politely decline the offer and explain that you do not engage in illegal activities.
Report the incident to the appropriate authorities if necessary.
Maintain ethical standards and integrity in all professional dealings.
Q6. what is AML & how important is it ?
AML stands for Anti-Money Laundering. It is crucial in preventing financial crimes and ensuring compliance with regulations.
AML refers to the laws, regulations, and procedures put in place to prevent criminals from disguising illegally obtained funds as legitimate income.
It is important because it helps detect and prevent money laundering, terrorist financing, and other financial crimes.
Financial institutions are required to have AML programs in place to comply with regulatio...read more
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Q7. what you know about stock broking
Stock broking involves buying and selling of stocks on behalf of clients through a brokerage firm.
Stock broking is the act of buying and selling stocks on behalf of clients
Stock brokers work for brokerage firms and execute trades on behalf of clients
Stock brokers earn commissions or fees for their services
Stock broking involves analyzing market trends, company financials, and economic indicators to make informed investment decisions
Q8. Is ISRAEL a sanctioned country.
Yes, Israel is considered a sanctioned country by some countries and organizations.
Israel is not sanctioned by all countries, but some countries and organizations do have sanctions in place.
Sanctions may include restrictions on trade, financial transactions, and travel.
Examples of countries that have imposed sanctions on Israel include Iran and some Arab League countries.
KYC Analyst Jobs
Q9. How much types of exchange
There are two main types of exchanges: centralized exchanges (CEX) and decentralized exchanges (DEX).
Centralized exchanges (CEX) are operated by a central authority and require users to deposit funds with the exchange to trade.
Decentralized exchanges (DEX) operate without a central authority and allow users to trade directly with each other using smart contracts.
Examples of centralized exchanges include Binance, Coinbase, and Kraken.
Examples of decentralized exchanges include...read more
Q10. What is KYC and AML
KYC stands for Know Your Customer and AML stands for Anti-Money Laundering. They are regulatory processes to prevent financial crimes.
KYC is the process of verifying the identity of customers to prevent fraud and financial crimes.
AML is the set of procedures, laws, and regulations designed to prevent the practice of generating income through illegal actions.
KYC involves verifying customer identity, assessing risks, and monitoring transactions.
AML focuses on detecting and repo...read more
Q11. What is the kyc
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, terrorist financing, and other financial crimes.
It involves collecting personal information and verifying the identity of customers.
KYC includes verifying documents such as government-issued IDs, proof of address, and financial statements.
The process helps financial institutions assess the risk of doin...read more
Q12. What is AML ..
AML stands for Anti-Money Laundering, a set of regulations and procedures designed to prevent the illegal generation of income.
AML refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.
Financial institutions are required to have AML programs in place to detect and report suspicious activities.
Examples of AML measures include customer due diligence, transaction monitoring, and reporting of su...read more
Q13. What is CDD EDD
CDD stands for Customer Due Diligence and EDD stands for Enhanced Due Diligence. They are processes used by financial institutions to assess and manage risk associated with their customers.
CDD is a standard process of verifying the identity of customers and assessing their risk level.
EDD is a more in-depth process that involves additional scrutiny for high-risk customers.
CDD is typically done for all customers, while EDD is reserved for customers who pose a higher risk.
Exampl...read more
Q14. What is sanction
Sanction refers to a penalty or measure imposed on individuals, entities, or countries for violating laws or regulations.
Sanctions can include financial penalties, trade restrictions, travel bans, and asset freezes.
They are often imposed by governments or international organizations to enforce compliance with laws or policies.
Examples of sanctions include the United Nations sanctions on North Korea for its nuclear weapons program, and the US sanctions on Iran for its human ri...read more
Q15. END TO end KYC Process
The end-to-end KYC process involves collecting, verifying, and monitoring customer information to ensure compliance with regulations.
Collecting customer information such as identification documents and personal details
Verifying the authenticity of the information provided through various checks and screenings
Monitoring customer transactions and behavior for any suspicious activities
Updating customer records regularly to ensure compliance with regulations
Examples: conducting i...read more
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