Preview Questions Fraud Analyst | Role Specific Skill

Question 1: How would you classify a case where the same fraudulent transaction appears multiple times across different accounts but under varying customer names?

Which action should you take?

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Account takeovers

Synthetic identity fraud

Friendly fraud

Phishing fraud

Question 2: What method would be most effective in identifying unusual activity that could indicate the risk of money laundering?

Which action should you take?

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Clustering account transaction behavior

Regression analysis of account activity

Monitoring cross-border transactions

Statistical modeling of transaction patterns

Question 3: What is the role of customer risk scoring in the fraud detection process?

Which action should you take?

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It helps identify customers with a higher likelihood of committing fraud

It categorizes customers based on their credit score

It helps prioritize customers based on their transaction history

It reduces the complexity of fraud detection

Question 4: In fraud detection, how does anomaly detection differ from traditional rule-based systems?

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Rule-based systems detect known fraud types, while anomaly detection handles only unknown fraud

Anomaly detection requires manual input, while rule-based systems are fully automated

Anomaly detection looks for patterns that deviate from normal behavior, whereas rule-based systems only apply predefined rules

Rule-based systems use machine learning, while anomaly detection relies on statistical methods

Question 5: Which regulation governs the cross-border transfer of personal data within the European Union and between other countries?

Which action should you take?

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GDPR (General Data Protection Regulation)

Basel III

AML Act

MiFID II (Markets in Financial Instruments Directive)

Question 6: In BFSI fraud investigations, which of the following is most important when identifying red flags in suspicious transactions?

Which action should you take?

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Account history

Transaction frequency

Geographic location

Transaction size