15 September 2022

Knowing your customer

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What kind of event typically triggers a KYC check?

  2. When was anti-money laundering legislation first introduced in Ireland?

  3. What new requirement featured in the 2021 update to the legislation?

  4. According to Signicat, how many consumers abandoned digital bank applications in 2020 because of frustration over how long verification took?

  5. According to Future Market Insights, how much could the identity verification market be worth by 2032?

  6. Which technology could help entities share verification data?

  7. Experts believe that the compliance burden from anti-money laundering

  8. Which of the following is not likely to be a benefit of automating mandatory obligations like Know your Customer?

  9. Which risk from failure to verify identity should accountancy firms take particular notice of?

  10. Which of the following industries requires customer onboarding time to decrease?

1 Unit