{"id":753548,"date":"2023-04-15T13:07:00","date_gmt":"2023-04-15T07:37:00","guid":{"rendered":"https:\/\/leverageedu.com\/discover\/?p=753548"},"modified":"2023-04-15T13:07:00","modified_gmt":"2023-04-15T07:37:00","slug":"aml-kyc-certification-exam","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/discover\/indian-exams\/aml-kyc-certification-exam\/","title":{"rendered":"AML KYC Certification Exam 2023\u00a0"},"content":{"rendered":"\n

The advent of modern technology and the digital era globally has opened up new opportunities across all sectors including banking and finance<\/strong>. Banks, by design, have specialized departments for each of their functions. However, with the boom in the digital age and online banking and transfer of funds, banks also require specialized personnel to ensure compliance with Anti-Money Laundering (\u201cAML\u201d)\u00a0 as well as Know Your Customer (\u201cKYC\u201d) standards.<\/p>\n\n\n\n

With this above objective in mind, the Indian Institute of Banking and Finance (\u201cIIBF\u201d) introduced the certificate examination in AML & KYC.\u00a0<\/p>\n\n\n\n

Particulars<\/strong><\/td>Relevant details<\/strong><\/td><\/tr>
Conducting Body<\/td>Indian Institute of Banking and Finance (\u201cIIBF\u201d)<\/td><\/tr>
Frequency of exam<\/td>As notified online by IIBF<\/td><\/tr>
Application process<\/td>Online<\/td><\/tr>
Official website <\/td>iibf.org.in <\/td><\/tr>
Mode of examination<\/td>Online <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n\n\n\n

AML KYC Important Dates 2023<\/h2>\n\n\n\n

The crucial dates for the upcoming AML KYC exam have already been notified, as noted below:<\/p>\n\n\n\n

Exam Date<\/strong><\/td>Event<\/strong><\/td>Date<\/strong><\/td><\/tr>
March 11, 2023<\/td>Start of online registration <\/td>February 27, 2023<\/td><\/tr>
Last date for online registration <\/td>March 6, 2023<\/td><\/tr>
March 25, 2023<\/td>Start of online registration<\/td>March 10, 2023<\/td><\/tr>
Last date for online registration<\/td>March 19, 2023<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Eligibility Criteria for AML KYC Exam<\/h2>\n\n\n\n

Both members and non-members of the IIBF are eligible to enrol for this examination. Candidates should have completed their 12th standard examination in any discipline or the Business Correspondent\/ Business Facilitator exam conducted by IIBF to write this exam.<\/p>\n\n\n\n

Registration Process for the AML KYC Exam<\/h2>\n\n\n\n

The application process is completely online and candidates need to register on IIBF\u2019s website iibf.org.in. During this process, candidates can pick an appropriate date for the examination. Further, during this process, candidates can also register for study material offered by IIBF. Upon successful completion of the registration process, candidates will be able to download their admit card. <\/p>\n\n\n\n

AML KYC Exam Fees <\/h2>\n\n\n\n

The fee schedule for the exam is stated below:-<\/p>\n\n\n\n

Category<\/strong><\/td>Fees*<\/strong><\/td><\/tr>
Members<\/td>INR 1100 per attempt<\/td><\/tr>
Non-Members<\/td>INR 1600 per attempt<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

* Exclusive of convenience charges and taxes, as applicable.  <\/p>\n\n\n\n

Syllabus for AML KYC Exam<\/h2>\n\n\n\n

The detailed syllabus for the AML KYC Exam is discussed below. However, it is pertinent to note here that the candidates are also expected to be well-prepared for answering questions on the latest developments taking place in the domain of the relevant subjects. <\/p>\n\n\n\n

Subject<\/strong><\/td>Syllabus<\/strong><\/td><\/tr>
Anti-Money Laundering<\/strong><\/td>Money Laundering – Origin and Definition
Techniques impact on banks
Structuring, integration and preventive legislation
International co-operation – UK<\/strong>, USA<\/strong><\/a>, India-Basel committee
Prevention of Money Laundering Act objectives
Reserve Bank of India guidelines
System Adequacy to combat money laundering
Anti-terrorism finance
Financial Intelligence Unit
The Financial Action Task Force
Indian Banks\u2019 Association working group
Software for AML screening
Money laundering and correspondent banking
Exchange companies
Foreign branches<\/td><\/tr>
Know your customer – Introduction and Overview<\/strong><\/td>Customer profile
KYC policies
Countries deficient in KYC policies and initiatives by the RBI
Organized financial crimes customer
Definition under the KYC principles
Transactional profile
Organizational structure
Important KYC Framework in RBI Prescriptions
Operating guidelines
Introduction of new accounts
Guidelines or opening accounts of companies, trusts, firms, intermediaries, etc.
Client accounts opened by professional intermediaries
Trust\/nominee or fiduciary accounts
Accounts of politically exposed persons residing outside India
Accounts of \u2018non-face-to-face\u2019 customers
Qualitative data
Joint accounts
Minor accounts
KYC for existing accounts
KYC for low-income group customers
Monitoring accounts
Customer research
Suspicious transactions<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Exam Pattern for AML KYC Exam<\/h2>\n\n\n\n

The exam pattern is discussed below:-<\/p>\n\n\n\n

Particulars<\/strong><\/td>Details<\/strong><\/td><\/tr>
Duration of exam<\/td>Two (2) hours<\/td><\/tr>
Language of exam<\/td>English<\/td><\/tr>
Mode<\/td>Online<\/td><\/tr>
Type<\/td>MCQ<\/td><\/tr>
Total Questions<\/td>120<\/td><\/tr>
Total marks<\/td>100<\/td><\/tr>
Negative marking<\/td>No<\/td><\/tr>
Minimum passing marks<\/td>60<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Also Read<\/strong>:<\/strong> City Union Bank Exam<\/strong><\/p>\n\n\n\n

Books for Preparation for AML KYC Exam<\/h2>\n\n\n\n

The advantage of having a defined syllabus is that candidates can, during their preparation, refer to literature best suited to the prescribed syllabus. The following books are recommended for the preparation for the AML KYC examination:<\/p>\n\n\n\n

Name of the book<\/strong><\/td>Author<\/strong><\/td><\/tr>
Anti-Money Laundering and Know Your Customer<\/td>Indian Institute of Banking and Finance<\/td><\/tr>
AML Compliance Fundamentals<\/td>M.L. Humphrey<\/td><\/tr>
Guide for AML Auditors – Know Your Customer Compliance<\/td>Bob Walsh<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

However, given the vast syllabus, candidates should do their research and pick additional literature best suited for their preparation. <\/p>\n\n\n\n

Points to Remember<\/h2>\n\n\n\n

There are certain key pointers prescribed by IIBFI that candidates must take note of. These are as follows:-<\/p>\n\n\n\n