Q63: What must a beneficiary Regulated Entity (RE) have in place to determine when to execute, reject, or suspend a wire transfer that lacks required originator or beneficiary information?

A system for real-time monitoring of all transactions, regardless of risk.

Effective risk-based policies and procedures.

A dedicated compliance officer for every transaction.

A minimum five-year record of all incomplete transfers.

✅ Correct Answer: B

Beneficiary REs must have effective risk-based policies to handle incomplete wire transfers.

This policy requirement is a standard question in RBI KYC Guidelines MCQs.

Bank Promotion Exam Guide