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.
Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.
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
- LAW523: Finance Law Essay, CSU, Malaysia Lisbon was charged with murder under section 302 of the Penal Code for killing 16 years old student identified as Paris
- Madison Capital Group is considering allocating limited capital investment funds among three proposals: Principle Of Finance Assignment, UOW, Malaysia
- Information Technology Assignment, APU, Malaysia The development of technology is moving in tandem with economic development. Digitalization has been first introduced
- BED15203: Write a C program that prompts user to enter 2 sides of a rectangle and the radius of a circle: Fundamentals Of Programming Assignment, UniKL, Malaysia
- Management Science Case Study, MUM, Malaysia RT Property Management Sdn. Bhd. is a property management company located in Kuala Lumpur. As a property manager
- DSC7053 Artificial Intelligence And Machine Learning, Assignment, VUC, Malaysia
- Enhancing MIS through Web Application Integration
- Corporate Reporting Current Issue Assignment, SU, Malaysia The impact a company is having on the environmental, social, and economic structure of society. In post COVID-19 world
- Organizational Behaviour Assignment, UiTM, Malaysia The Great Wall restaurant is an extremely popular restaurant in southwest Kuala Lumpur. It is located in and is part
- Contract Law and Commercial Disputes: Legal Principles and Case Analysis
