Accenture Transaction Processing Associate Interview Questions, Process, and Tips

AML stands for Anti-Money Laundering. It is a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

• AML is used in financial institutions to detect and prevent money laundering activities.

• It involves identifying and verifying the identity of customers, monitoring transactions, and reporting suspicious activities.

• Examples of suspicious activi...read more

SPF PEP are regulations related to anti-money laundering measures.

• SPF stands for Sanctions, Politically Exposed Persons (PEP), and Financial Crime

• PEP refers to individuals who hold prominent public positions or have close associations with such individuals

• Documents required for KYC include government-issued ID, proof of address, and proof of income/employment

• Additional documents may be required for PEPs, such as proof ...read more

Transaction refers to the exchange of goods, services or money between two or more parties.

• Transactions involve a transfer of value from one party to another.

• They can be conducted in various forms such as cash, credit card, online payment, etc.

• Transactions can be simple or complex depending on the nature of the exchange.

• They are recorded for future reference and analysis.

• Examples include buying groceries, paying bills,

Key points to notice during invoice processing

• Accuracy of invoice details

• Matching invoice with purchase order and receipt

• Checking for duplicate invoices

• Verifying payment terms and discounts

• Ensuring proper coding and approval

• Identifying any discrepancies or errors

• Maintaining proper documentation and record keeping