Accenture Interview Questions and Answers

Red flags in identifying suspicious transaction patterns and reporting them

• Unusual transaction amounts or frequency

• Transactions with high-risk countries or individuals

• Transactions involving illegal activities

• Transactions that deviate from the user's normal behavior

• Transactions that involve multiple parties or intermediaries

• Transactions that are inconsistent with the user's profile or business

• Transactions that involve unusual payment methods or channels

• Transactions that lack a...read more

I have 5 years of experience in compliance operations.

• I have worked in compliance operations for 5 years.

• During my time in compliance operations, I have gained extensive knowledge and expertise.

• I have successfully handled various compliance-related tasks and responsibilities.

• My experience includes working on fincrime-related compliance operations.

• I have a strong understanding of regulatory requirements and best practices in the field.

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

• AML involves the detection, investigation, and reporting of suspicious activities that could indicate money laundering or terrorist financing.

• The stages of AML include customer due diligence, monitoring transactions, reporting suspicious activities, and conducting regular audits.

• Examples of AML measures inc...read more

CTF stands for Customer Due Diligence and is a process used by financial institutions to assess and mitigate risks associated with money laundering and terrorist financing.

• CTF involves verifying the identity of customers, assessing their risk level, and monitoring their transactions for suspicious activity.

• Risk factors in CTF include high-value transactions, complex ownership structures, politically exposed persons (PEPs), and customers from high-risk jurisdictions.

• Examples o...read more

The stages of Anti-Money Laundering (AML) involve customer due diligence, transaction monitoring, and reporting suspicious activities.

• Customer Due Diligence (CDD) - Verify the identity of customers and assess the risk they pose.

• Transaction Monitoring - Monitor transactions for suspicious activities and patterns.

• Reporting Suspicious Activities - Report any suspicious activities to the relevant authorities.

• Compliance and Record-Keeping - Ensure compliance with AML regulations a...read more

Money muling is a form of money laundering where individuals transfer illegally obtained funds through their bank accounts.

• Money mules are recruited by criminals to receive funds in their bank accounts and then transfer it to another account, often in a different country.

• Money muling is illegal and can result in criminal charges for those involved.

• Criminals use money mules to disguise the original source of the funds and make it harder for law enforcement to track the money t...read more