Question

screening the names of all existing and proposed customers to ensure that their name do not match with the names in negative lists provided by UN or other regulatory lists primarily helps in

Answer 1

• Screening the names of all existing and proposed customers to ensure that their name do not match with the names in negative lists provided by UN or other regulatory lists primarily helps in keeping a check on Money Laundering.
• Money laundering refers to illegal production and distribution of money, this is a high level offence which can get you blacklisted.
• Thus in cases of high level transactions, or international transactions it is often better to cross reference to ensure proper security.
• UN and WHO and other international regulatory agencies keep track of such offences.

Answer 2

Answer:

Screening the names of all existing and proposed customers to ensure that their names do not match with the names in negative lists provided by UN or other regulatory lists primarily helps in_

Explanation: