What is one recommendation of the Basel Committee’s 2001 paper Customer Due Diligence for Banks”?
What is one recommendation of the Basel Committee’s 2001 paper Customer Due Diligence for Banks”?
A . Numbered accounts should not be allowed
B . Certain types of private banking can be exempt from KYC procedures
C . Banks should develop dear descriptions of acceptable customers
D . Politically Exposed Persons (PEPs) should not be accepted as customers
Answer: C
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