Which of the following is NOT a required aspect of KYC when executing a transaction for a new client?

The correct answer is that the number of the client's dependents is not a required aspect of Know Your Customer (KYC) procedures when executing a transaction for a new client. KYC is primarily focused on verifying the identity of the client and understanding the nature of their financial dealings to prevent fraud and money laundering activities.

KYC requirements typically include gathering information that helps establish an individual's identity, such as their occupation, address, and the financial profile relevant to the transaction being conducted. For example, knowing the client's occupation and address helps in assessing the legitimacy of their income sources and creating a risk profile. The size of the transaction in relation to the client's income also plays a significant role in understanding whether the transaction is consistent with the client’s financial status, which is a critical factor in detecting potentially suspicious activity.

In contrast, the number of dependents a client has does not typically contribute to the evaluation of their financial identity or the legitimacy of transactions, making it less relevant in the context of KYC obligations. Therefore, this information is not required under standard KYC practices.