Module: General Practice
Q66: Which of the following statements regarding an RE's staffing and audit policies for AML/KYC compliance are correct?
REs must have an adequate screening mechanism, such as a "Know Your Employee" policy, as an integral part of their hiring process.
The internal audit function must be staffed with persons who are adequately trained and well-versed in the RE's KYC/AML/CFT policies and regulations.
All new hires, regardless of department, must be certified AML specialists.
The internal audit function must be staffed with persons who are adequately trained and well-versed in the RE's KYC/AML/CFT policies and regulations.
All new hires, regardless of department, must be certified AML specialists.
✅ Correct Answer: A
Statements 1 and 2 are correct.
Screening and training are mandatory, but universal certification (Statement 3) is not.
Internal policy questions like this are common in RBI KYC Guidelines MCQs.
Screening and training are mandatory, but universal certification (Statement 3) is not.
Internal policy questions like this are common in RBI KYC Guidelines MCQs.