Banking Assignment, APU, Malaysia As a member of the AML, CDD checks need to be performed for the potential client, GMT due to the nature of the business
| University | Asia Pacific University (APU) |
| Subject | Banking |
As a member of the AML, CDD checks need to be performed for the potential client, GMT due to the nature of the business activity as a dealer in dealing with precious metals.
An effective CDD process involves identifying and identifying the identity of clients as well as understanding the purpose and nature of the business relationships.
Thus, prior to updating to Board, the CDD process is fundamental to:
- Prevent reporting intuitions from creating anonymous and fictitious accounts1 and
- Access the extent of money laundering (ML)
Based on the nature of the client’s business, it is clearly classified under Inherent Risk which is defined as the possibility of inaccurate information appearing in a financial statement due to error or omission, not a failure of internal controls. It is most likely to occur when transactions are complex and use of difficult –to-access financial instruments.
Get Help By Expert
Are you feeling overwhelmed and pressed for time with an assignment due soon? Assignmenthelper.my is here to help! Our competent team of assignment helpers can provide the grade success that you deserve! If a budget-friendly service is what you need, just ask us "do my assignment cheap", and we will make sure to deliver top-notch work at an economical price.
Recent Solved Questions
- EBQ2054: Business Research Method Essay, UM, Malaysia Describe the theoretical contribution in your research with the consideration of the relevant social theories that are supported by the specified arguments
- Mpu3223_v2: Entrepreneurship II Keusahawanan II May 2024 Semester, Assignment, OUM, Malaysia
- BMIT5103: Information Technology for Managers Assignment, OUM, Malaysia Information technology has revolutionized the banking industry, enabling online banking, mobile payments
- CHEN5017: Process Plant Engineering Assignment, CU, Malaysia Hydrogen is touted to be one of the most promising energy carriers which can supply the world’s energy demand .
- EED308/05: “Teachers need to equip students with 21st century skills like critical thinking, creativity, collaboration: English Language Teaching in Malaysia Assignment, WOU, Malaysia
- Anatomy & Physiology Essay, IIUM, Malaysia Discuss the mechanism of the skeletal and muscular systems as well as elaborate on the importance
- Programming Paradigms Assignment, UiTM, Malaysia Form a group of a maximum of three (3) members and suggest a case study of any possible realistic scenario
- Technical Planning Research Paper, UMS, Malaysia Blockchain technology has gotten a lot of attention around the world because it has the potential to change how supply chains
- RQ1: Does the ride sourcing demand affect the traffic congestion in Malaysia?: Final year project A Research Paper, IIUM, Malaysia
- Unit 1 Assignment – Financial For Business
