Module: General Practice
Q52: Which of the following statements regarding compliance with the WMD Act, 2005 are correct?
The Director, Financial Intelligence Unit-India (FIU-IND) is designated as the Central Nodal Officer (CNO) for the WMD Act.
If an RE finds a match between a customer's particulars and the designated list, it shall not carry out the transaction.
Upon finding a match, the RE must immediately inform the Central Nodal Officer (CNO).
If an RE finds a match between a customer's particulars and the designated list, it shall not carry out the transaction.
Upon finding a match, the RE must immediately inform the Central Nodal Officer (CNO).
✅ Correct Answer: D
All statements are correct.
The Director FIU-IND is the CNO, and matches require transaction stoppage and reporting.
Understanding WMD Act compliance is part of the broader scope of RBI KYC Guidelines MCQs.
The Director FIU-IND is the CNO, and matches require transaction stoppage and reporting.
Understanding WMD Act compliance is part of the broader scope of RBI KYC Guidelines MCQs.