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What do you understand by KYC & AML?

Answers were Sorted based on User's Feedback



What do you understand by KYC & AML?..

Answer / devender

Know Your Customer (KYC) guidelines and Anti Money Laundering (AML)

Money launders use the banking system for cleansing ‘dirty money’ obtained from criminal activities with the objective of hiding/disguising its source. The process of money laundering involves creating a web of financial transactions so as to hide the origin and true nature of these funds.

Is This Answer Correct ?    231 Yes 8 No

What do you understand by KYC & AML?..

Answer / sr

yes

Is This Answer Correct ?    37 Yes 2 No

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