Know Your Customer (Kyc)

KYC (Know Your Customer) is a process used by businesses to verify and identify their customers. It involves collecting and verifying customer information and documents to ensure their identity and prevent fraud. This process helps businesses comply with regulatory requirements and establish trust with their customers. The answer "Identification and Verification" correctly identifies the main components of KYC, which include collecting and verifying customer identification documents such as passports, driver's licenses, or national ID cards. The other options mentioned, "Expired Documents" and "Snapchats," are not relevant to the KYC process.

To capture a picture of your ID showing all four corners of your identity document is necessary in order to ensure that all the relevant information on the document is visible and legible. This helps in verifying the authenticity of the ID and prevents any tampering or fraud. By capturing all four corners, it ensures that no crucial details are cropped or hidden, providing a complete and accurate representation of the document. Therefore, the statement "True" is the correct answer.

The KYC training manual is designed to assist us in recognizing fake identity documents. It provides guidance on how to spot signs of forgery or tampering, ensuring that we can accurately verify the authenticity of identification presented by individuals. By being able to identify fake identity documents, we can effectively prevent fraud and maintain the integrity of our processes.

The correct answer includes a list of documents that are accepted for KYC (Know Your Customer) purposes. These documents include S.A ID documents, S.A Smart ID Card, Asylum Documents, and Passport. These documents are commonly used to verify the identity and legal status of individuals during the KYC process.

In this question, the statement mentions that you have to take something along with your passport. Out of the given options, "Selfie" is the only item that can be physically taken along with the passport. "Video" and "Snapchat" are digital platforms and cannot be physically carried, so they cannot be the correct answer. Therefore, "Selfie" is the correct answer as it can be taken and carried along with the passport.

The explanation for the given answer "False" is that the KYC (Know Your Customer) system does not allow expired documents. This is because expired documents are no longer considered valid proof of identification or address. The KYC system requires up-to-date and valid documents to ensure the accuracy and reliability of customer information. Expired documents do not meet this requirement and therefore cannot be accepted in the KYC process.

This statement is true because it states that a lease or rental agreement that is less than 12 months old and shows the name and residential address of a client is allowed. This means that if a client has a lease or rental agreement that meets these criteria, it is considered valid and acceptable.

The statement suggests that a valid TV License, which is more than 12 months old, will not be accepted. This implies that the TV License must be renewed within a year to remain valid. Therefore, the answer "True" indicates that an old TV License is indeed not accepted.

The correct answer is 3 Months. Utility bills or clothing store accounts are acceptable as proof of address if they are not older than 3 months. This means that the document must be recent and reflect the current address of the individual. Any document older than 3 months may not accurately represent the person's current residence.

The statement suggests that it is possible to use the same documents on different agents. However, the correct answer is false, indicating that this statement is incorrect. This means that using the same documents on different agents is not possible.