Module: General Practice
Q48: Which of the following correctly matches the "Risk Category" with the mandatory minimum periodicity for KYC updation?
High-risk customers: Once in every two years
Medium risk customers: Once in every eight years
Low-risk customers: Once in every ten years
Medium risk customers: Once in every eight years
Low-risk customers: Once in every ten years
✅ Correct Answer: D
The bank shall carry out periodic updation at least once in every two years for high-risk customers, once in every eight years for medium risk customers and once in every 10 years for low-risk customers.
These timelines are essential for the IIBF AML KYC Exam 2026.
These timelines are essential for the IIBF AML KYC Exam 2026.