BANK SIDBI Grade A (General) Phase I Mock Test 2024 Banking and Financial Awareness KYC & Money Laundering
Which of the following are correct about the process of "Risk Management" in KYC policies?
1. Regulated Entities (REs) must conduct a "Money Laundering and Terrorist Financing Risk Assessment" periodically.
2. The risk assessment must be done at least once every 5 years.
3. REs must apply a Risk-Based Approach (RBA) for mitigating and managing risks.
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