Discuss how banks with ineffective KYC procedures are likely to experience legal and public relations risks.

Please use this website: http://www.bis.org/publ/bcbs110.htm
In October 2001, the Basel Committee on Banking Supervision (BCBS) issued “Customer due diligence for banks”, which was subsequently reinforced by a General Guide on account opening and customer identification (CDD) in February 2003. The CDD paper describes four elements necessary for a sound know-your-customer (KYC) program.
To learn more, read the article on KYC, and research using the Internet.
Part 1: Research
Address the following issues, using this template:
Analyze how the adoption of effective KYC procedures is integral to a bank’s risk management practices. Discuss how banks with ineffective KYC procedures are likely to experience legal and public relations risks. Analyze how sound KYC policies can reduce the possibility of money laundering and other unlawful activities.
Part Two: General Questions
Involving stakeholders in risk management always offers substantial payoffs. Discuss. Describe the events that link Herstatt Bank to Basel II. Discuss a few major outcomes of this evolution. Which components, in your opinion, must be covered in market risk policies? Discuss and provide a rationale.
FIN 4101 Name:Enterprise Risk Management Date:Week 4, Assignment 1
Part 1: KYC Case Study
I. Summary and analysis (75-100 words): Analyze how the adoption of effective KYC procedures is integral to a bank’s risk management practices.
II. Key Concepts Covered: (75-100 words): Discuss how banks with ineffective KYC procedures are likely to experience legal and public relations risks.
III. Conclusions (100-150 words): Analyze how sound KYC policies can reduce the possibility of money laundering and other unlawful activities.

 
. WITH BEST NURSING TUTORS .

The post Discuss how banks with ineffective KYC procedures are likely to experience legal and public relations risks. appeared first on BEST NURSING TUTORS .
 
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!Use Discount Code “Newclient” for a 15% Discount!NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.

DO YOU NEED HELP WITH THIS ASSIGNMENT ?


At LindasHelp.com , I can take care of all your academic needs including your individual & learning team papers & power points, your Accounting, Finance, Math and QNT labs, sheets, quizzes, discussion questions and Final exams. All the work I complete for you is guaranteed to be 100% original, plagiarism free, edited, APA formatted and just ready for you to add your name on it.

Leave a Reply

Your email address will not be published.

Scroll to Top