Explanation:
According to the Basel Committee on Banking Supervision, the primary objective of robust Know Your Customer (KYC) and customer due diligence policies is to protect the safety and soundness of banks and the integrity of banking systems by preventing them from being used for money laundering and terrorist financing.
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Q.15 Which of the following is the main driver behind the Know Your Customer (KYC) programs outlined in the Basel Committee's papers on customer due diligence for banks?
A
Protecting the integrity of the banking systems.
B
The Financial Action Task Force's (FATF) recommendations.
C
Protecting the integrity of the capital markets.
D
Customer protection.
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