KYC, Transaction Monitoring, and Sanctions Compliance in Financial Crime Prevention — Flashcards | Anti Money Laundering Specialist | FatSkills

KYC, Transaction Monitoring, and Sanctions Compliance in Financial Crime Prevention — Flashcards

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This quiz treats KYC, monitoring, and sanctions as one continuous flow instead of three separate checklists. It helps you think about a customer from onboarding to exit, including how their activity is watched over time.

What you should know for this topic

  • What good KYC looks like at onboarding (for individuals and businesses)
  • Why customer risk ratings are not a one-time label
  • How simple monitoring rules flag transactions for review
  • What to do when you hit a possible sanctions or watchlist match
  • How to document decisions so they make sense months later

Use this quiz as a quick test of whether your mental model matches how a real compliance team works.

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What is the purpose of Know Your Customer (KYC)?
To manage financial crime risk and comply with legal and regulatory requirements.
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