...Registered Housing Finance Companies Dear Sir, GUIDELINES ON ‘ KNOW YOUR CUSTOMER’ & ‘ANTI MONEY LAUNDEERNG MEASURES’ FOR HFCs Please refer to our Circular NHB(ND)/DRS/POL. No. 13/2006 dated April 10, 2006 and circulars issued subsequent thereto from time to time on the above subject advising Housing Finance Companies (HFCs) to ensure that a proper policy framework on ‘Know Your Customer‘ and ‘Anti money Laundering Measures’ is put in place with the approval of their Board. In this connection we wish to inform that the said Guidelines have since been reviewed in the light of subsequent developments including amendments in the Prevention of Money Laundering Act and Rules framed there under.The revised Guidelines on ‘Know Your Customer‘ and ‘Anti money Laundering Measures’ that are to be followed are enclosed. HFCs are advised to amend their existing policy framework keeping the above Guidelines in view with the approval of their Board within one month from the date of issue of this circular and ensure their strict compliance. A copy of the modified policy should be sent to the National Housing Bank. Please acknowledge receipt. Yours faithfully, (R.S.Garg) General Manager Department of Regulation and Supervision Annexure : Guidelines on ‘Know Your Customer’ and ‘Anti Money Lending Measures’. GUIDELINES ON ‘KNOW YOUR CUSTOMER’ AND ANTI-MONEY LAUNDERING MEASURES 'Know Your Customer' Guidelines The objective of ‘Know Your Customer (KYC) Guidelines’ is to prevent housing finance companies...
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...difficulties for the banking sector. Consequently several big institutions such as HSBC and Citigroup have already been fined for failing to comply with AML laws. Regulations have changed the financial sector. This essay will analyse the impact of the 9/11 attacks on the regulatory framework as well as the effects of AML on the financial industry. Page 3 of 16 2. MEASURES TAKEN AML has been on the agenda of regulators well before 9/11. However, the actions of prosecutors were more focused on fighting organised crime, drug and weapon dealing as well as tax evasion. 9/11 shifted the attention towards fighting terrorism and initiated Counter Terrorist Financing (“CTF”) laws. It was not until 9/11, that strict reporting rules known as “Know Your Customer” were introduced in the US. Before, the banking lobby could prevent further regulations, however, the US PATRIOT Act 2001, in response to 9/11, took AML and CTF measures to a new level. Since 2001 a comprehensive due diligence for high-risk products and especially for so-called “Politically Exposed Persons” is mandatory in the US....
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...REQUIREMENTS Table of Contents Introduction Project Findings Due Diligence for Correspondent Accounts Wolfsberg Principles for Correspondent Banking Standard Due Diligence Information to be Provided Availability of the Standard Due Diligence Information Dissemination of the Standard Due Diligence Information Further Information on Establishment and Maintenance of Correspondent Banking Accounts Appendix I: Checklist of Core Information Required Appendix II: Templates of Forms (Blank) 14 15 16 3 4 5 6 7 10 11 12 Disclaimer: This guide was developed specifically to provide information and guidance relating to the application process for opening a Correspondent Bank account or responding to an inquiry from a counterparty bank undertaking a “Know Your Customer” compliance review. Each bank that offers banking services will have its own documentation requirements which may differ from what is set out in this guide. Hence, the procedures and standards set out in this guide do not guarantee the sufficiency of any information that may be provided to, or accepted by, another financial institution. This guide is also not intended to provide information regarding the preparation of policies and procedures relating to anti-money laundering or compliance with other relevant banking and other statutes and regulations that may be the subject of a correspondent or counterparty bank information request. This guide does not constitute legal advice. Users of this guide are urged to contact appropriate...
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...Anti Money Laundering http://www.antimoneylaundering.org/ HOME | ABOUT US | INDUSTRY | SERVICES | NEWS & MEDIA | EVENTS | CONTACT US Related Areas Know Your Customer (KYC) Services Online Political Corruption Data-File Terrorist Financing Filter Anti Corruption Enhanced Due Diligence (EDD) services Regulatory Compliance Country-Check Foreign Corrupt Practises Act Anti Money Laundering The word money laundering refers to the use of the financial system to hide the source of funds gained from illegal activity such as drug trafficking, bribery, extortion, embezzlement, theft or other criminal activity, as the criminals try to make their ill gotten gains appear genuine. Anti Money Laundering is the term used by banks and other financial institutions to describe the variety of measures they have to combat this illegal activity and to prevent criminals from using individual banks and the financial system in general as the conduit for their Proceeds of Crime. In all major jurisdictions around the world, criminal legislation and regulation make it mandatory for banks and financial institutions to have arrangements to combat Money Laundering, with harsh criminal penalties for non-compliance. The vast majority of criminal dealings are done in cash. Criminals need ways to dispose of the cash and have it reappear as part of their wealth with as little chance as possible of it being tracked back to the cash element. Criminals have to use the financial...
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...Theory and Practice of Regulation of Anti-Money Laundering for Banks and NonBanks Hayford Kwesi Annor Manager, Risk & Compliance/AMLRO, ABii National Savings & Loans Ltd. Doctorate of finance student, SMC University, Switzerland. FAAFM, Ch.FE, ACCPA, MBA, BSc, HND h.k.annor@gmail.com Abstract A deregulated financial sector is free to accumulate and allocate funds from anywhere irrespective of the nature, form, intent and source. Without regulatory oversight, this poses zero risk to banks and nonbanks no matter how they finance the capital structure. In the real world, banking is an outcome of interactions between the regulator and the regulated. Regulatory consequences apply for failure to comply with the acceptable standards of best practices of banking regulation which include fines, sanctions, jail terms and revocation of the banking license for willful or non-willful noncompliance. The physical disposal of proceeds of funds’ from crime with aim of separating same, through creation of layers to disguise trails of the source and make it seem legitimate undermines the integrity of the financial system. It is required of the banking sector to build a comprehensive framework that identifies, assesses, monitors, mitigates and reports perceptions of suspicious activities of money launderers under the discipline of the regulator to avoid being sanction for the related offences. This paper reviews theory to link practice towards money laundering risk assessment...
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...Giving a speech in front of strangers can be terrifying. You’ll most likely try to think of everything to make it less terrifying days before you start. Your hair and your clothes you rehearse and talk to yourself in the mirror. You give the speech to family and friends to help work out the bugs and try to gain confidence. Of course, there is always the age- old tactic of picturing your audience naked to help with nerves. However, you can do all of these but if you don’t consider your audience odds are your speech is not going to live up to all your hard work. Audience analysis is the most important part of your speech. After all the audience, you are speaking to is your entire reason for giving the speech. “The more you know your audience the better you can prepare.”...
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...Audience Analysis and Reception Name XBCOM/275 Date Instructors name Audience Analysis and Reception Audience Analysis and Reception In this paper, I will present some important facts while preparing a report for the management of my company. My goal while speaking to them would be to either inform, persuade or entertain the upper management. While doing this I need to know the interests, likes and dislikes. I will tailor my speech to the needs of the management which would lead to a positive reaction from them. Why you need to know your audience? This is important because in order to achieve your purpose, as well as to get the expression and applause you desire, you must satisfy the audience with something in which they are interested. Thus, it is important to know what your audience is interested in, what their expectations are and even what mood they are in. In speaking to a group of managers at work, you have a good idea of who will be in the audience. There may be some individuals to be wary of or to whom you should focus the speech. It is a good idea to know who is important in my career in giving his presentations. If you find out about some key people in the audience, you can use them in your opening comments to gain rapport with the audience. Everyone likes a humorous comment about the boss, at your expense, not at his or hers. Audience Analysis and Reception ...
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...Knowing Your Audience Team D March 23, 2015 “Knowing Your Audience” When an organization or a company needs to forward information to another group, organization, or company, as the sender it is very vital that you know your audience. When sending a message that is regarding life, death, or a disaster, it is even more important that you know your audience. In disastrous circumstances, the way the victim’s family member, friends, or even the world finds out should be done with tact, compassion, and empathy, and they shouldn’t hear about it from an unreliable source, so the delivery of your message should be prompt When delivering a message that may possibly be dealing with death, there are vital things a sender should consider when dealing with a victim’s family and their employer/colleges, because of the different roles that are played by these two specific audiences. When conveying the message, if the audience isn’t taken into consideration the message could be misunderstood or taken out of context. This can future cause confusion and anger on the receiving end. When communicating with families of a victim, the sender should be prepared to answer a lot of difficult questions pertaining to the victim about what went down. These type of questions can be difficult because as the sender you will probably know very little about the incident. As the sender; inform the family that you will keep them in the loop and if anything changes...
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...“Audience analysis is the first step in any communication process: it gives you the tools you need to shape your product and your message. In order to communicate effectively with your audience, you need to understand who they are, what groups they belong to, and what values they hold” (Locker & Kienzler, 2008, p. 41). When you know what your audience finds meaningful this will help you relay information in a way that’s natural for the audience and to choose an allure that the audience will find convincing. The audience characteristics that are important to this message are demographics and psychographic characteristics. The demographic characteristics are objective features, such as, age, sex, and race, and education and income level (Locker & Kienzler, 2008). Psychographic characteristics are immeasurable attributes, such as values, goals, and lifestyles. One of the most pertinent demographic attributes is literacy next is the education level of the audience (Locker & Kienzler, 2008). Unfortunately, even in today’s progressive economies, as a presenter, you must ask if and how well the audience can read. You must also determine how much education the audience has pertaining to the subject matter. “It’s easy to overestimate the knowledge an audience has” (Locker & Kienzler, 2008, p 52.). I must answer the question: how much does my audience know about quarterly sales figures and what the figures mean to them and the company as...
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...Audience Analysis Paper Knowing your audience goes a long way in determining how one approached its communication to an audience. Is your audience considered internal? If not, should you use the same jargons or verbiages you would normally use with your internal audience? Determining the characteristics, the communication channels, and the diversity of your audience will make your presentation to your stakeholders an effective one. Characteristics of an audience goes in many forms but the important factors to consider are: 1.) Analyzing who the audiences are, 2.) Understanding the knowledge the audiences know about the subject, 3.) What are the audiences age, gender, educational background, etc?, 4.) What’s at stake for the audience you are presenting, and 5.) What are your audiences are going to be learning or getting with your presentation. Touching on each of the above factors, this author knows who the audiences are and they are the company’s stakeholders. The author now knows that he has to present the quarterly sales information, not just effectively but with precision. The author must tell the stakeholders the honest truth of the company’s quarterly number even if it’s not pleasant. This is important because what he presents to them will impact what actions or non-action the stakeholders will conduct in months after the presentation. The audience knows about the subject; therefore, the author must be careful not to use words or lead the audience to something...
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...IMPORTANT OF AUDIENCE RESEARCH ON MASS MEDIA BROADCASTING A SEMINAR PAPER ON COM 425: INSTRUCTIONAL COMMUNICATION PRESENTED BY NAME: AKPAN, JULIET RICHARD REG. NO. 06/CE/AR/CA/039 COMM. ARTS, FACULTY OF ARTS UNIVERSITY OF UYO, UYO TO THE COURSE LECTURER, MR. NSIKAN SEMAM NOVEMBER, 2010 IMPORTANCE OF AUDIENCE RESEARCH ON MASS MEDIA BROADCASTING ABSTRACT For any activity to be carried out well, some form of feedback is needed. Try walking with your eyes shut, and you will soon bump into something. Even without your thinking about it, the feedback from your eyes is used to correct your steps. In the same way, any organization that does not keep its eyes open is likely to meet with an accident. In the media industries, the equivalent to walking is broadcasting the programs. The equivalent of watching where you are going is audience research. INTRODUCTION Andrew Hart is among many writers, theorists and researchers who identify and value the existence of the audience in relation to the media. At the most basic level, audiences are vital in communication. It is for the audience that the media are constructing and conveying information, and, if it were not for the audiences, the media would not exist. The exact relationship between the media and their audiences has been the subject of debate since the media were first seriously studied and emphasizes the importance of the audience and of their relationship with the media. It is against...
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...Audience Analysis Paper Lucy Kerley COM 285 September 6, 2010 Michelle Maldonado Audience Analysis Paper The paper I have composed consists of various important components of a successful business meeting if used in the correct manner. This paper gives detail aspects of a business presentation of a report of quarterly sales, which has an audience in the following fields. The customers, stakeholders, salespersons and managers are those in this paper I will address as the audience. In this paper I will identify how the audience of different diversity backgrounds would be addressed in a business presentation, and how one would consider their knowledge to further one’s own business organization through analysis. You must consider the audience of communication when constructing a presentation. In order for a meeting to have the full potential one deserves, you must take regard to the structure of writing, and the creation of the design that would uphold the presentation’s foundation. When designing a presentation one must first consider the audience one is presenting. Effective communication will win over the most skeptical in the business world if one has the audience’s interest in mind. When one conducts a meeting consisting of quarterly sales information to more than one audience, one should be aware of how it will affect certain specifics in any given field. The audience will be more concerned about how the detail information would affect his specific business. Business...
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... |2011 | TABLE OF CONTENT I Introduction………………………………..3 II Body • Sec 1: General statement about public speaking …........................................3 • Sec 2: The important role of public speaking, and difficulties………….....3 • Sec 3: How to prepare a good speech………………………………………......4 • Sec 4: how to improve public speaking skill………………………………8 III Conclusion…………………………..……….12 IV Reference list……………………………...13 INTRODUCTION C an you think of any memorable talk or presentation you have ever attended? It is sad to know that most of the presentations are easy to forget, especially when the main reason behind the presentation was to communicate something to you. Therefore, it is important to know how to transfer effectively the information to the others. Moreover, the world is open and nations are integrated together. Hence, exchange information and negotiation is very important. Obviously, communication is the most essential skill at the moment, specifically public speaking. Public speaking is not a new trend in current century. However there are not many people can really do it...
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...thus, it necessary that you know the right strategies for creating a good content marketing plan. Following are the 7 tips for strategic content marketing: 1. Know your target audience To create a good content marketing strategy, it is necessary that you get to know your target audience or buyer persona by determining and addressing their needs. This is helpful in generating more relevant and useful content that your audience will definitely want to read. 2. Know the journey of your target audience This involves the delivery of the proper content to the right audience. This is done by providing the right content at the right time when your target audience actually needs it the most. The marketing content must be aligned to the target audience and it must provide content that captures, educates, and aids the target audience in their buying journey at their own pace. 3. Personalize content This is suggested if you want your target audience to relate in your content marketing. This can be done by basing your content on several personalized information of your target audience, such as their characteristics, their location, and the time they access the content. Another way of personalizing content is sending links of content snippets when circulating the content to your target buyer. You can then personalize the content based on their monitored interests. 4. Personalize a Call to Action (CTA) This particular tip can increase your conversion rate in as much as...
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...make you cringe. There are many possible reasons of why students do not like to write. Writing instructors usually hear My grammar is horrible, I had a writing teacher who marked up all my papers in red, or I cannot think of anything. Maybe you have similar reasons for not wanting to write; maybe you are excited to write, but do not know where to start. If you break the writing process into segments, it may not overwhelm you. This may ease your anxieties and inspire you to enjoy writing. Before you pick up a pen or start typing, stop and plan. Ask yourself the following questions and come up with answers: 1. What are the instructions? 2. What is my purpose for writing? 3. Who is my audience? 4. How must the overall structure of my writing look? 5. What must my tone be? Understand the Instructions First, read the instructions. Whether it is an assignment from an instructor or a project from a boss, read the instructions so you know what is expected. If you have questions, do not hesitate to ask. The following terms are frequently used in instructions. The definitions will help you understand what to include in your writing. |Term |Definition | | | | |Analyze ...
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