Which of the following customer does not fall under low-risk category under KYC guidelines:

a. Salaried employees
b. Persons from lower strata of the society
c. Govt. departments
d. Trusts

Which of the following customers fall under the high risk category customers from KYC purposes:

(a) politically exposed persons of foreign origin
(b) companies having close shareholding
(c) firms having sleeping partners
(d) high net worth individuals.

As per KYC guidelines, the banks cannot have correspondent arrangements with Shell Banks. For this purpose, the 'Shell Bank' mean:

a. a bank having no existence but on paper only
b. a bank incorporated outside India and having a branch in India
c. a bank incorporated in a country where it has no existence and it is not regulated by a regulating authority
d. a bank incorporated outside India and banned by UNO to have operations other than in the country of incorporation

As per Prevention of Money Laundering Act, the banks are required to maintain record of transactions for a period of from date of cessation of the transaction:

a. 2 years
b. 5 years
c. 10 years
d. 20 years

As per Prevention of Money Laundering Act, the banks are required to submit to Financial Intelligence Unit-India, monthly statement of large cash transactions called, CTR. It is to be submitted for transactions of Rs. _____ and within ______ of the close of the month:

a. Rs.10 lac, 7 days
b. above Rs.10 lac, 7 days
c. above Rs.10 lac, 15 days
d. Rs.10 lac, 5 days

As per the Prevention of Money Laundering Act, the banks are required to submit to Financial Intelligence Unit-India, a statement on suspicious transactions, called, STR. It is to be submitted for transactions of Rs _____ and within ______ of arriving at conclusion :

a. Rs. I0 lac, 7 days
b. above Rs.10 lac, 3 days
c. any amount, 7 days
d. any amount, 15 days