BANK SIDBI Grade A (General) Phase I Mock Test 2024 Banking and Financial Awareness KYC & Money Laundering
Which of the following statements regarding "Customer Due Diligence (CDD)" are correct?
1. CDD includes identifying the customer and verifying their identity using reliable and independent sources.
2. CDD is mandatory only for transactions exceeding ₹100,000.
3. CDD involves understanding the nature of the customer's business and ownership/control structure.
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
All of the above
5
None of the above