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KYC Interview Questions Swap

The document provides a comprehensive overview of KYC (Know Your Customer) processes, including its definition, differences from AML (Anti-Money Laundering), and required documentation. It outlines the roles and responsibilities of a KYC Analyst, types of Customer Due Diligence (CDD), and the significance of identifying Politically Exposed Persons (PEPs) and Ultimate Beneficial Owners (UBOs). Additionally, it discusses handling high-risk customers, the importance of screening tools, and common red flags in KYC processes.

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105 views2 pages

KYC Interview Questions Swap

The document provides a comprehensive overview of KYC (Know Your Customer) processes, including its definition, differences from AML (Anti-Money Laundering), and required documentation. It outlines the roles and responsibilities of a KYC Analyst, types of Customer Due Diligence (CDD), and the significance of identifying Politically Exposed Persons (PEPs) and Ultimate Beneficial Owners (UBOs). Additionally, it discusses handling high-risk customers, the importance of screening tools, and common red flags in KYC processes.

Uploaded by

swapna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

KYC Analyst Interview Questions & Answers

1. What is KYC?

KYC (Know Your Customer) is the process of verifying a customer's identity to prevent financial crimes like

money laundering, fraud, and terrorism financing.

2. What is the difference between KYC and AML?

KYC is a part of AML. AML (Anti-Money Laundering) includes a broader set of activities to detect and prevent

money laundering, while KYC focuses on verifying customer identity.

3. What documents are required for KYC?

For individuals: PAN card, Aadhaar, Passport, utility bills. For businesses: GST registration, Certificate of

Incorporation, UBO declaration.

4. What is CDD?

CDD (Customer Due Diligence) is the process of identifying and verifying the customer's identity and

assessing risk based on their profile.

5. What are the types of CDD?

There are three types: Simplified Due Diligence (SDD), Customer Due Diligence (CDD), and Enhanced Due

Diligence (EDD).

6. What is EDD?

Enhanced Due Diligence is required for high-risk customers and involves deeper checks, more

documentation, and ongoing monitoring.

7. What is a PEP?

PEP stands for Politically Exposed Person - someone with a prominent public position. They are considered

high-risk and require EDD.

8. What is the role of a KYC Analyst?

To review and verify customer documents, identify red flags, ensure regulatory compliance, and prepare due

diligence reports.

9. What would you do if there's a name mismatch between PAN and Aadhaar?

I would escalate to the compliance team or request corrected documentation before proceeding.

10. How do you handle high-risk country customers?

Apply EDD measures, check sanction lists (FATF/OFAC), and escalate if necessary.

11. What is an SAR?

SAR (Suspicious Activity Report) is a report submitted to authorities when a transaction appears suspicious
or inconsistent with the customer profile.

12. What is the importance of screening tools like WorldCheck?

These tools help screen customers against sanctions lists, PEP databases, and criminal records to avoid

regulatory violations.

13. What is UBO and why is it important?

UBO (Ultimate Beneficial Owner) is the person who ultimately owns or controls a company. Identifying UBO

is essential for transparency and AML compliance.

14. What are red flags in KYC?

Fake documents, incomplete info, high-risk countries, sudden change in transactions, reluctance to share

info.

15. Why do you want to work as a KYC Analyst?

I am detail-oriented, enjoy working with data and regulations, and I want to contribute to preventing financial

crimes.

16. How do you manage targets or high-volume review?

I stay organized, use checklists, prioritize urgent cases, and work efficiently under pressure.

17. Describe a time you spotted a mistake during verification.

In mock scenarios, I identified a mismatch in DOB between Aadhaar and PAN and flagged it for further

review.

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