A study on regulatory compliance of KYC in financial service industry
Journal of Contemporary Issues in Business and Government,
2020, Volume 26, Issue 2, Pages 579-584
AbstractThe main aim of the study is to determine the need and significance of Know Your Customer (KYC) in the financial sector. A descriptive research design is used in this study since it is most suitable due to the characteristics of the purpose of the study. In this study, a statistical method is used to determine the sample to ensure that the size of the sample is representable for the whole population. The size of the study is 72 and primary data is collected through questionnaire. Tools used in this study are frequency analysis, mean analysis, independent t test and ANOVA. It is found that there is no remarkable differentiation between demographic variables and perception towards the need of KYC.
- A.C.Gomathi, S.R.Xavier Rajarathinam, A.Mohammed Sadiqc, Rajeshkumar, 2020. Anticancer activity of silver nanoparticles synthesized using aqueous fruit shell extract of Tamarindus indica on MCF-7 human breast cancer cell line. J. Drug Deliv. Sci. Technol. 55.
- Byrne, J.J., 2000. Know Your Customer: What Happened and What Happens Next? Journal of Money Laundering Control.
- Chat, L.N., 2018. Preventing the use of financial institutions for money laundering and the implications for financial privacy. Journal of Money Laundering Control 21, 47–58.
- Danda, A.K., Ravi, P., 2011. Effectiveness of postoperative antibiotics in orthognathic surgery: a meta-analysis. J. Oral Maxillofac. Surg. 69, 2650–2656.
- Danda, A.K., S, R., Chinnaswami, R., 2009. Comparison of gap arthroplasty with and without a temporalis muscle flap for the treatment of ankylosis. J. Oral Maxillofac. Surg. 67, 1425–1431.
- de Wit, J., 2007. A risk‐based approach to AML: A controversy between financial institutions and regulators. Journal of Financial Regulation and Compliance 15, 156–165.
- Dieter, D.S., Mention, A., 2011. Improving auditor effectiveness in assessing KYC/AML practices: Case study in a Luxembourgish context. Managerial Auditing Journal 26, 182–203.
- Dua, K., Wadhwa, R., Singhvi, G., Rapalli, V., Shukla, S.D., Shastri, M.D., Gupta, G., Satija, S., Mehta, M., Khurana, N., Awasthi, R., Maurya, P.K., Thangavelu, L., S, R., Tambuwala, M.M., Collet, T., Hansbro, P.M., Chellappan, D.K., 2019. The potential of siRNA based drug delivery in respiratory disorders: Recent advances and progress. Drug Dev. Res. 80, 714–730.
- Ezhilarasan, D., Apoorva, V.S., Ashok Vardhan, N., 2019. Syzygium cumini extract induced reactive oxygen species-mediated apoptosis in human oral squamous carcinoma cells. J. Oral Pathol. Med. 48, 115–121.
- Gelb, A., 2016. Balancing Financial Integrity with Financial Inclusion: The Risk-Based Approach to \guillemotleftKnow Your Customer\guillemotright. CGD Policy Paper 74, 1–24.
- Gill, M., Taylor, G., 2004. Preventing money laundering or obstructing business? Financial companies’ perspectives on “know your customer”procedures. Br. J. Criminol. 44, 582–594.
- Graham, N.M., 2003. Know your customer: Good for compliance, great for client service. Journal of Investment Compliance 4, 58–61.
- Jackson, A., 2000. Recognising and Reporting Money Laundering: How Well Should You Know Your Customer? Journal of Money Laundering Control 3, 317–324.
- Krishnan, R., Chary, K.V., 2015. A rare case modafinil dependence. J. Pharmacol. Pharmacother. 6, 49–50.
- Lawrence, P.S., Stadler, A., 2011. SEC approves FINRA’s overhaul of its Discovery Guide. Journal of Investment Compliance 12, 30–32.
- Limehouse, D., 1999. Know your customer. Work Study 48, 100–102.
- Manivannan, I., Ranganathan, S., Gopalakannan, S. et al., 2018. Mechanical Properties and Tribological Behavior of Al6061–SiC–Gr Self-Lubricating Hybrid Nanocomposites. Trans Indian Inst Met 71, 1897–1911.
- McKenna, B., 2006. Know your customer – but not too well? Infosecurity Today 3, 3.
- Mondal, P.C., Deb, R., Huda, M.N., 2016. Transaction authorization from Know Your Customer (KYC) information in online banking. In: 2016 9th International Conference on Electrical and Computer Engineering (ICECE). pp. 523–526.
- Narayanan, V., Kannan, R., Sreekumar, K., 2009. Retromandibular approach for reduction and fixation of mandibular condylar fractures: a clinical experience. Int. J. Oral Maxillofac. Surg. 38, 835–839.
- Narayanan, V., Ramadorai, A., Ravi, P., Nirvikalpa, N., 2012. Transmasseteric anterior parotid approach for condylar fractures: experience of 129 cases. Br. J. Oral Maxillofac. Surg. 50, 420–424.
- Neelakantan, P., John, S., Anand, S., Sureshbabu, N., Subbarao, C., 2011. Fluoride release from a new glass-ionomer cement. Oper. Dent. 36, 80–85.
- Neelakantan, P., Sharma, S., 2015. Pain after single-visit root canal treatment with two single-file systems based on different kinematics--a prospective randomized multicenter clinical study. Clin. Oral Investig. 19, 2211–2217.
- Neelakantan, P., Subbarao, C., Sharma, S., Subbarao, C.V., Garcia-Godoy, F., Gutmann, J.L., 2013. Effectiveness of curcumin against Enterococcus faecalis biofilm. Acta Odontol. Scand. 71, 1453–1457.
- Panchal, V., Jeevanandan, G., Subramanian, E.M.G., 2019. Comparison of post-operative pain after root canal instrumentation with hand K-files, H-files and rotary Kedo-S files in primary teeth: a randomised clinical trial. Eur. Arch. Paediatr. Dent. 20, 467–472.
- Prasanna, N., Subbarao, C.V., Gutmann, J.L., 2011. The efficacy of pre-operative oral medication of lornoxicam and diclofenac potassium on the success of inferior alveolar nerve block in patients with irreversible pulpitis: a double-blind, randomised controlled clinical trial. Int. Endod. J. 44, 330–336.
- Priya S, R., Krishnan, C., S, J.R., Das}, J., 2009. Growth and characterization of NLO active lithium sulphate monohydrate single crystals. Crystal research and technology 44, 1272–76`.
- Rajeshkumar, S., Menon, S., Venkat Kumar, S., Tambuwala, M.M., Bakshi, H.A., Mehta, M., Satija, S., Gupta, G., Chellappan, D.K., Thangavelu, L., Dua, K., 2019. Antibacterial and antioxidant potential of biosynthesized copper nanoparticles mediated through Cissus arnotiana plant extract. J. Photochem. Photobiol. B 197, 111531.
- Ramadurai, N., Gurunathan, D., Samuel, A.V., Subramanian, E., Rodrigues, S.J.L., 2019. Effectiveness of 2% Articaine as an anesthetic agent in children: randomized controlled trial. Clin. Oral Investig. 23, 3543–3550.
- Ramakrishnan, M., Dhanalakshmi, R., Subramanian, E.M.G., 2019. Survival rate of different fixed posterior space maintainers used in Paediatric Dentistry - A systematic review. Saudi Dent J 31, 165–172.
- Ramesh, A., Varghese, S.S., Doraiswamy, J.N., Malaiappan, S., 2016. Herbs as an antioxidant arsenal for periodontal diseases. J Intercult Ethnopharmacol 5, 92–96.
- Rowley, J., 1997. Beyond service quality dimensions in higher education and towards a service contract. Quality Assurance in Education.
- Venugopalan, S., Ariga, P., Aggarwal, P., Viswanath, A., 2014. Magnetically retained silicone facial prosthesis. Niger. J. Clin. Pract. 17, 260–264.
- Verhage, A., 2011. The Anti Money Laundering Complex and the Compliance Industry. Routledge.
- Wilhelm, S., Gueldenberg, S., Güttel, W., 2013. Do you know your valuable customers? Journal of Knowledge Management 17, 661–676.
- Article View: 19
- PDF Download: 10