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
- ACC4294: Effective Governance Report, UH, Malaysia Today’s environment is one not only of heightened risk but of prolonged uncertainty
- Economics Assignment, HU, Malaysia The quantity demanded and quantity supplied for good A and good B by the citizens of a country XYZ at different prices
- COMP1030: Write an ARM assembly program to implement the Breadth First Search: Systems Architecture Assignment, UNMC, Malaysia
- Managerial Finance Course Work, APU, Malaysia What is the company’s earnings potential? Example to include: gross profit, net income, EBITDA, and financial earning for which year
- LAW1014: Business Law Course Work, SU, Malaysia Discuss the application of the doctrine of caveat emptor with particular reference to the implied conditions
- MPIS7103 Final Examination City University Malaysia : Management Information Systems
- UBAE3023: Business Ethics Assignment, UTAR, Malaysia Can humans discuss their inclinations when they are expected to decide ethically in relation with their duties, roles and goodwill
- You are a manager at ABC Share Registrars Sdn. Bhd. (ABC), which provides share registration services: Advance Company Secretarial Practice Assignment. UPTM, Malaysia
- FIT3155: Advanced Data Structures and Algorithms Assignment, MUM, Malaysia Develop a Java program using STACK CONCEPT that is able to do ALL of the following requirements as below
- Law Assignment, OUM, Malaysia: During the classroom presentation, you were introduced to a number of examples of businesses ideas
