KYC Associate Interview Questions and Answers

Negative news screening refers to the process of identifying and flagging any negative or adverse information about individuals or entities.

• Negative news screening is a part of the Know Your Customer (KYC) process in which individuals or entities are checked against various databases and sources for any negative or adverse information.

• It helps in identifying potential risks, such as involvement in criminal activities, fraud, money laundering, or being associated with sanction...read more

KYC Associate is responsible for verifying the identity of customers and ensuring compliance with anti-money laundering (AML) regulations.

• KYC Associate verifies customer identities and ensures compliance with AML regulations.

• AML stands for Anti-Money Laundering, which refers to the laws and regulations designed to prevent money laundering and terrorist financing.

• KYC and AML are closely related processes in the financial industry.

• KYC involves collecting and verifying customer ...read more

BPO stands for Business Process Outsourcing.

• It involves contracting out specific business processes to a third-party service provider.

• Common BPO services include customer support, data entry, and accounting.

• BPO can help companies reduce costs and improve efficiency.

• Examples of BPO companies include Accenture, IBM, and Infosys.

KYC is required to verify the identity of customers and prevent fraud and money laundering.

• KYC helps to establish the identity of customers

• It ensures that the customer is not involved in any fraudulent activities

• It helps to prevent money laundering and terrorist financing

• KYC is mandatory for financial institutions and other regulated entities

• It helps to maintain the integrity of the financial system