Module: General Practice
Q25: Under which of the following circumstances is a bank required to undertake the identification of customers (Customer Identification Procedure)?
When carrying out an international money transfer for a person who is not an account holder.
When selling third-party products for more than ₹50,000.
When a walk-in customer conducts a transaction of ₹50,000 or more.
When the bank believes a customer is intentionally structuring transactions below the ₹50,000 threshold.
When selling third-party products for more than ₹50,000.
When a walk-in customer conducts a transaction of ₹50,000 or more.
When the bank believes a customer is intentionally structuring transactions below the ₹50,000 threshold.
✅ Correct Answer: D
Identification is required for: international transfers for non-account holders, selling third-party products > ₹50,000, walk-in transactions > ₹50,000, and intentional structuring below ₹50,000.
These triggers are essential knowledge for the IIBF AML KYC Exam 2026.
These triggers are essential knowledge for the IIBF AML KYC Exam 2026.