BANK SIDBI Grade A (General) Phase I Mock Test 2024 Banking and Financial Awareness KYC & Money Laundering
Consider the following regarding the obligations of Regulated Entities (REs):
1. REs are required to conduct Customer Due Diligence (CDD) procedures during both account opening and ongoing transactions.
2. Record management by REs must ensure preservation of KYC records for at least 10 years.
3. Enhanced due diligence measures are mandatory for politically exposed persons (PEPs).
Which of the above-mentioned statement(s) is/are correct?
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