HSBC Global Banking and Markets Senior Transaction Monitoring Officer Interview Questions and Answers

A mule account is a bank account used to transfer illegally obtained money.

• Mule accounts are typically opened by individuals who are recruited by criminals to help launder money.

• The individuals who open mule accounts are often unaware that they are participating in illegal activities.

• Criminals use mule accounts to move money around in order to avoid detection by authorities.

• Mule accounts are a common tool used in money...read more

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 aims to detect and prevent money laundering activities within financial institutions.

• It involves monitoring transactions, conducting due diligence on customers, and reporting suspicious activities to authorities.

• Examples of AML measures include ...read more

A chargeback is a reversal of a credit card transaction initiated by the cardholder's bank.

• A chargeback occurs when a customer disputes a charge on their credit card statement.

• The cardholder's bank investigates the dispute and may reverse the transaction if it is found to be valid.

• Chargebacks can result in financial losses for businesses, as they often incur fees and lose the sale amount.

• Common reasons for chargebacks ...read more

To handle a team, customer service and team management, clear communication, setting goals, providing feedback, and leading by example are crucial.

• Establish clear communication channels and ensure everyone is on the same page

• Set achievable goals and provide regular feedback to team members

• Lead by example and demonstrate the desired behavior and work ethic

• Provide training and development opportunities to improve team sk...read more

Negotiate max amount by understanding the needs of both parties and finding a mutually beneficial solution.

• Understand the needs and priorities of both parties

• Identify areas of compromise

• Offer creative solutions that benefit both parties

• Be willing to walk away if a mutually beneficial solution cannot be reached