AML RightSource Interview Questions and Answers

Q1. Aml and kyc basics
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Identifying suspcious activity from a set of data. Psychometric test.

Q1. What is anti-money laundering?
Ans. 
Anti-money laundering (AML) refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
• AML involves detecting and reporting suspicious financial activities to authorities.

• Financial institutions are required to have AML programs in place to comply with regulations.

• Examples of AML measures include customer due diligence, transaction mon...read more
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Q2. What is your understanding of structuring?
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Structuring involves organizing and arranging data, information, or processes in a systematic way.
• Structuring involves organizing data or information in a logical manner.

• It helps in making complex information easier to understand and navigate.

• Examples include creating databases, outlining project plans, and designing workflows.
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Q3. What are the three stages of money laundering?
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The three stages of money laundering are placement, layering, and integration.
• Placement: The initial stage where illegal funds are introduced into the financial system.

• Layering: The process of separating the illicit funds from their original source through complex financial transactions.

• Integration: The final stage where the laundered funds are reintroduced into the legitimate economy.

• Example: A criminal deposits cash ...read more
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Q4. What is your understanding of Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)?
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CDD is the process of verifying the identity of customers to prevent money laundering and fraud, while EDD is a more thorough investigation for higher-risk customers.
• CDD involves collecting and verifying customer information such as name, address, and identification documents.

• EDD is conducted for customers posing a higher risk of money laundering or terrorist financing, requiring a more in-depth analysis.

• Examples of ED...read more
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Q5. What is your understanding pep
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PEP stands for Personal Effectiveness and Productivity. It refers to the ability to manage oneself and one's time efficiently.
• PEP involves setting goals, prioritizing tasks, and managing time effectively.

• It includes skills such as organization, time management, and self-discipline.

• PEP helps individuals to be more productive and achieve their goals.

• Examples of PEP techniques include creating to-do lists, using time mana
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Q6. What are high risk countries
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High risk countries are those with unstable political situations, high crime rates, or ongoing conflicts.
• Countries with high levels of political instability

• Countries with high crime rates

• Countries experiencing ongoing conflicts

• Countries with high levels of corruption

• Countries with high levels of terrorism

• Countries with poor healthcare infrastructure
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Q7. What are the potentials red flags
Ans. 
Potential red flags in an analysis
• Inconsistencies in data or methodology

• Lack of transparency in sources or calculations

• Unrealistic assumptions or projections

• Significant outliers or anomalies

• Conflicts of interest or bias

• Poor quality or outdated data

• Inadequate sample size or representation
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Q1. Tell me about yourself!
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I am a recent graduate with a degree in finance and a passion for data analysis. I have experience with financial modeling and market research.
• Recent graduate with a degree in finance

• Passionate about data analysis

• Experience with financial modeling and market research
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Q2. What do you know about red flags in AML?
Ans. 
Red flags in AML refer to suspicious activities or behaviors that may indicate money laundering or terrorist financing.
• Unusual transactions or patterns, such as frequent large cash deposits or withdrawals

• Lack of a logical business explanation for transactions

• Use of shell companies or nominee accounts to obscure the true source of funds

• Customer reluctance to provide identification or other required information

• Transactio...read more
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Q3. Transactions limit in India per day
Ans. 
The transactions limit in India per day varies depending on the type of transaction and the bank's policies.
• Different banks have different daily transaction limits for various types of transactions such as ATM withdrawals, online transfers, and POS transactions.

• For example, State Bank of India has a daily ATM withdrawal limit of Rs. 40,000 for classic debit card holders.

• Some banks may allow customers to increase their ...read more
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Q1. Are you comfortable working at night shift ?
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Yes, I am comfortable working at night shift as I am a night owl and can maintain focus and productivity during those hours.
• I am naturally more alert and productive during night hours.

• I have experience working night shifts in previous roles.

• I am able to adjust my sleep schedule to accommodate night shifts.

• I understand the importance of maintaining focus and productivity during night hours.

• I am comfortable with the idea
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Q2. Salary expectations
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There is financial crime related assignment.

Case study room related to Transaction monitoring

Q1. What is AmL ?
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Q2. What is Pep ?
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Pep is a term commonly used to refer to energy, enthusiasm, or liveliness.
• Pep can refer to a person's high energy or enthusiasm levels.

• It can also refer to a type of seasoning or condiment, such as lemon pepper or chili pepper.

• In sports, pep can refer to a team's spirit or motivation to perform well.

• Pep can also be used in marketing to describe a promotional campaign or event aimed at generating excitement.
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They have three stages in the filtration process, and it is particularly interesting that you must be cleared from probation before moving forward.

MCQ related AML like what is stages of AML what is EDD CDD