What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?

Post by answerhappygod »

What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?

A. It is not used on a daily basis
B. The service fees are insufficient to cover the cost of managing the account
C. The respondent bankג€™s customer acceptance and know your customer policies are ineffective
D. The volume and value of transactions passing through the account may not be in line with the original correspondent agreement
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top

This question has been solved and has 1 reply.

You must be registered to view answers and replies in this topic. Registration is free.


Register Login
 
Post Reply

Return to “Archived Questions & Answers”