Audio Transcript Auto-generated
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Hello everyone for the annual review assignment.
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Annual review.
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7.60 ceo interview Select in the population.
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We were asked to identify the scope of accounts that
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must be reviewing the Donald's whole family relationship case.
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Here are my thoughts banks that provide private banking services
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generally obtained um considerable amount of information from their clients,
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including the purpose for which the customer establishes the private
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banking account.
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This information can establish a baseline for account activity that
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will enable a bank to better detect suspicious activities and
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to assess situations where additional information or verification regarding the
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source of funds are necessary.
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Banks are not expected in the ordinary course of business
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to verify the source of every deposit place in every
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private banking account.
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However, banks um should monitor deposits and transactions as necessary
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to ensure that activities um in the bank account or
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in that particular bank account is consistent with the information
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that the bank has received from the clients and that
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includes the source of funds and the stated purpose or
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expected purpose use um of the account.
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Such monitoring will facilitate the identification of accounts that were
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in additional screening.
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T Thank you