PPB: Concepts and Practice · Part A: General Banking Operations

Chapter 3: KYC in operation

How a bank identifies each customer, finds the real owner behind a company, and keeps KYC current.

Buyers of the e-book, or of the print copy, which includes it, read the whole chapter. Everyone can read the free sample, pages 1 to 24 of the e-book.

In this chapter

• 3.1Due diligence for individualsp. 31
• 3.2Routes to KYC, and small accountsp. 32
• 3.3Legal entities and beneficial ownersp. 33
• 3.4Enhanced due diligence and the CKYCRp. 34
• 3.5Keeping KYC currentp. 35
• Exam traps and quick checksp. 36
• Practice: 16 questions in three roundsp. 37
• Answers, with every wrong option explainedp. 39
• Make it stickp. 41
• Chapter 3 on one pagep. 42

Corrections and updates

None for this chapter so far. Every correction to the book, and any rule that changes after its date, is listed on the errata page.