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Know Your Customer

Know your customer is becoming increasingly important subject in the Indian Banks. This category provides the resources on the KYC and violation of the KYC

Penalty on Airtel Payments Bank for violation of KYC Norms

Based on the complaints and adverse media reports alleging that the Airtel Payments bank had opened customer accounts without a clear/specific consent of the customers, a supervisory visit to the bank...

Classification of High Risk Customers

Regulated financial institutions are required to take a risk-based approach to customer due diligence and ongoing monitoring under the Money Laundering Regulations. Customer relationship pose money laundering and terrorist financing risk...
high risk countries

Dealing with customers from High Risk Countries

Globalisation is storming ahead and businesses are looking beyond their domestic surroundings. They have to expand beyond the domestic markets if they have to remain competitive in global marketplace....

High Risk Business Sector – Real Estate

Real estate industry is an attractive target of money launderers. It helps to hide the proceeds of crime. It allows large quantities of cash to be laundered in a single transaction....

Defining Heightened Risk Entities

Risk Assessment procedures of the banks require them to identify and classify the customer. Classification of High Risk Customers is one of the major challenges that every financial institution face. In simple...

Heightened Risk Individuals – Politically Exposed Persons

Politically Exposed Persons (PEP)s are high risk customers for financial institutions. Due to their influence, many PEPs are in positions that potentially can be abused for the purpose of...

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