IIBF AML-KYC Practice Exam

Compliance with 'Know Your Customer' guidelines and 'Anti-Money Laundering' standards has become imperative for fostering healthy financial relationships for both banks and financial institutions in India. This course aims to provide thorough coverage of the diverse guidelines, standards, and guidance notes issued by regulatory bodies such as the RBI, IBA, and international organizations.

Exam Objective

The objective of this exam is to impart advanced knowledge and understanding of AML/KYC standards and to enhance the professional competence of employees working in banks and financial institutions.

Exam Eligibility

• The program is open to both members and non-members of the Institute.
• Candidates must have passed the 12th standard examination in any discipline or its equivalent. Alternatively, candidates who have completed the BC/BF examination conducted by IIBF are also eligible to apply.

Exam Details

• Exam Name: Anti-Money Laundering & Know Your Customer
• Time Duration: 120 minutes
• Exam Questions: 120
• Passing Score: 60/100
• Exam Language: English

Anti-Money Laundering & Know Your Customer Exam Course Outline 

The Exam covers the given topics  - 

Topic 1: Overview of Anti-Money Laundering

• Money Laundering - Origin and Definition
• Techniques Impact on Banks
• Structuring; Integration
• Preventive Legislation
• International Co-operation
• UK; USA; India - Basel Committee
• PMLA Objectives - RBI Guidelines
• System Adequacy to Combat Money Laundering - Anti-terrorism finance
• Financial Intelligence Unit (FIU)
• The Financial Action Task Force (FATF) - IBA Working Group - Software for
• Money Laundering and Correspondent Banking - Exchange Companies - Foreign Branches

Topic 2: Overview of Know Your Customer

• Customer Profile - KYC Policies - Countries Deficient in KYC Policies
• Initiatives by the RBI - Organised Financial Crimes Customer
• Definition under the KYC Principles - Transaction Profile
• Organizational Structure - Important KYC framework in RBI prescriptions - Operating Guidelines.
• Introduction of new accounts - Guidelines for Opening Accounts of Companies, Trusts, Firms, Intermediaries etc.
• Intermediaries - Trust / Nominee or Fiduciary Accounts - Accounts of Politically
• Exposed Persons (PEPs) Residing Outside India, Accounts of ‘non-face-to-face’
• Customers - Qualitative data - Joint accounts
• Minor accounts - KYC for existing accounts - KYC for low-income group customers