Why is kyc important?



Why is kyc important?..

Answer / Suneel Kumar

Know Your Customer (KYC) is crucial in the financial industry to prevent identity theft, money laundering, and terrorist financing. It involves verifying the identity of customers and understanding their financial transactions to ensure compliance with regulations.

Is This Answer Correct ?    0 Yes 0 No

Post New Answer

More Banking Finance Interview Questions

Why do you want to enter banking Industry?

1 Answers   RBI,


What are the Non Performing assets of a company

1 Answers   IBPS,


what is entry load? what is exit load?

6 Answers   Capital IQ,


Explain what are ETF’s? What is the advantage of it?

1 Answers  


What is the between Balance of Trade and Balance of Payments?

1 Answers   IBPS,


what are the various methods to curb inflation

3 Answers   Oriental Bank Of Commerce,


What is the reason for sudden slump in value of rupee and bourses?

1 Answers   LIC,


Which was the first indian bank to set up internet kiosk?

1 Answers  


What is RFID? Tell its advantages?

1 Answers   RBI,


What do you mean by interest coverage ratio?

1 Answers  


What's Purchase and selling of foreign currency?

1 Answers   State Bank Of India SBI,


What do you know about Bio metric ATM?

1 Answers   State Bank Of India SBI,


Categories
  • Business Administration Interview Questions Business Administration (517)
  • Marketing Sales Interview Questions Marketing Sales (1279)
  • Banking Finance Interview Questions Banking Finance (3208)
  • Human Resources Interview Questions Human Resources (747)
  • Personnel Management Interview Questions Personnel Management (68)
  • Hotel Management Interview Questions Hotel Management (29)
  • Industrial Management Interview Questions Industrial Management (113)
  • Infrastructure Management Interview Questions Infrastructure Management (14)
  • IT Management Interview Questions IT Management (97)
  • Supply Chain Management Interview Questions Supply Chain Management (16)
  • Operations Management Interview Questions Operations Management (39)
  • Funding Interview Questions Funding (79)
  • Insurance Interview Questions Insurance (494)
  • Waste Management Interview Questions Waste Management (1)
  • Labor Management Interview Questions Labor Management (48)
  • Non Technical Interview Questions Non Technical (73)
  • Business Management AllOther Interview Questions Business Management AllOther (546)