Empower Retirement Process Specialist Interview Questions and Answers

Transaction monitoring is the process of reviewing and analyzing transactions to detect suspicious activity or compliance violations.

• Monitoring financial transactions for signs of money laundering or fraud

• Identifying unusual patterns or behaviors in transactions

• Ensuring compliance with regulations and policies

• Using software tools to automate the monitoring process

• Taking action on flagged transactions, such as investiga

SAR stands for Suspicious Activity Report. Outgoing wires refer to electronic transfers of funds from one account to another.

• SAR is a report filed by financial institutions to report suspicious activities that may indicate money laundering or other illegal activities.

• Outgoing wires are electronic transfers of funds initiated by a customer to send money to another account.

• Financial institutions monitor outgoing wires to...read more