Customer Due Diligence Risks for Banks: Basel Committee Findings

Identifying Risks of Inadequate KYC Programs

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Question

In its paper, Customer Due Diligence for Banks, the Basel Committee on Banking Supervision identified which risks on banking institutions as a result of an inadequate KYC program?

Answers

A. Outsourcing, legal, concentration, reputational

B. Credit, operational, market, concentration

C. Legal, reputational, operational, concentration

D. Security, information, local, operational

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Explanations

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A. B. C. D.

The Basel Committee on Banking Supervision

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