The financial services sector has been compelled by strict international anti-money-laundering (AML)guidelines that require firms to _________.
A)know your customer
B)implement master data management
C)adhere to project portfolio management
D)demonstrate data consistency and accuracy

Question

Quizplus · Accepted Answer

One of the main requirements of AML regulations is for financial institutions to implement "know your customer" (KYC) procedures to verify the identity of their clients and assess the level of risk they pose for money laundering activities. Option B, C, and D are not directly related to AML regulations.

The Financial Services Sector Has Been Compelled by Strict International