New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following is correct with respect to the

    conditions to be met for a third party’s customer due diligence to be accepted by an RE?
    A Third-party records must be immediately accessible. Correct Answer Incorrect Answer
    B The third party must not be based in a high-risk jurisdiction. Correct Answer Incorrect Answer
    C The third party must be regulated under the PML Act. Correct Answer Incorrect Answer
    D REs must take steps to verify identification data availability. Correct Answer Incorrect Answer
    E All of the above. Correct Answer Incorrect Answer

    Solution

    To rely on a third party’s customer due diligence, the RE must ensure immediate access to records, regulation of the third party under PML compliance, absence of high-risk jurisdiction affiliations, and verification of data availability.  

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