Q.1 In what interval Re-KYC for High-Risk customers is mandated ?

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The question asks about the mandated interval for Re-KYC for High-Risk customers. According to financial regulations, the frequency of Know Your Customer (KYC) updates depends on the customer's risk category. High-risk customers require more frequent updates due to increased scrutiny.

Understand Re-KYC regulations.
Re-KYC (Re-Know Your Customer) is the process of periodically updating customer information to ensure compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. The frequency of these updates varies based on the risk assessment of the customer.
Identify the interval for High-Risk customers.
For customers categorized as high-risk, financial institutions are typically mandated to conduct Re-KYC more frequently than for low or medium-risk customers. The standard interval for high-risk customers is 2 years.
Select the correct option.
Based on the standard regulatory guidelines for Re-KYC, the interval for High-Risk customers is 2 years.

The correct option is C.
$\boxed{\text{C. 2 Years}}$

Q.1 In what interval Re-KYC for High-Risk customers is mandated ?

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Step-by-step solution

Understand Re-KYC regulations.

Identify the interval for High-Risk customers.

Select the correct option.

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