CDD
Customer Due Diligence Quiz
Test your knowledge on Customer Due Diligence (CDD) and its essential components. This quiz covers key terms like Anti-Money Laundering (AML), Enhanced Due Diligence (EDD), and more!
Enhance your understanding and ensure compliance in your organization:
- Learn about crucial acronyms and definitions.
- Assess your grasp on compliance procedures.
- Improve your ability to identify potential risks.
True or Falls: Customer Due Diligence (CDD) is the process of obtaining, retaining and using information about a Customer. This includes establishing the source of the client’s income or funds, financial circumstances and the nature of the transactions undertaken. This concept applies to natural persons, companies, partnerships, close corporations, trusts and other legal persons /entities. CDD is required to ensure that we are able to identify suspected fraudulent transactions and to combat money laundering and terrorist financing (i.e. Anti-Money Laundering, AML).
False
True
Choose the Correct meaning for FICA
Financial Intellectual Centre Access
Financial Intelligence Centre Ac
Financial Internet Center Act
Choose the correct meaning for GMLCO
Group Money Lending Center Office
Group Money letting Center Office
Group Money Laundering Control Office
Select The Correct Meaning of PIP
Political Influenced Person
Persons Influential Politically
Prominent Influential Person
Select The Correct meaning of RTS
Rear Time Screen
Real Time Screening
Ready Timing Screening
True of False: The Abbreviation for STR is Suspicious Transaction Reporting
True
False
What Does TRP Stand For?
Terrorist Poverty Reporting
Terrorist Property Reporting
Terrorist Prayer Reporting
What documents are required for a Juristic?
True or False: The documents must be verified by the relevant authorised Bank representative, agent (e.g. courier, attorneys) or third party sources (E.g. Department of Home Affairs)
True
False
None of the above
How do we CDD a Customer?
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