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Identifying and verifying a customer and beneficial owner is called:
ACustomer data disclosure
BCustomer debt discovery
CCustomer deposit drawing
DCustomer due diligence
Answer & Solution
Correct answer: D. Customer due diligence
1. The bank must use reliable independent sources.
2. It covers both the customer and anyone behind them.
3. This process is customer due diligence.
_Source: Reserve Bank of India (Commercial Banks - Know Your Customer) Directions, 2025_
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