What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?
Posted: Wed Mar 09, 2022 7:18 am
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
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