Question

In cases where REs are unable to meet Customer Due

Q: Answer-In cases where REs are unable to meet Customer Due Diligence (CDD) requirements due to a customer’s...

If a customer is uncooperative or fails to provide reliable documents, the RE should consider filing an STR with FIU-IND, as this may indicate potential money laundering activities.

Diligence (CDD) requirements due to a customer’s lack of cooperation, what is the recommended action?

A Approve account with limited access

B File a Suspicious Transaction Report (STR)

C Place a freeze on the account

D Seek third-party verification

E Report to a local enforcement agency

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SIDBI Grade A (Assistant Manager)

In cases where REs are unable to meet Customer Due

Solution

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