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Accenture Interview Questions and Answers
Q1. What are the red flags could be there while identifying transaction pattern of the user. What transactions could be summed as suspicious transactions and what transactions can be reported?
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
Q2. How many years of exp do you have in compliance operations, etc..
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.
Q3. What is AML? And stages
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
Q4. What is CTF? Risk factors
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
Q5. What are the stages of AML?
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
Q6. What is money muling
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
Q7. Differenfe between AML and CTF
AML focuses on preventing money laundering, while CTF focuses on preventing terrorist financing.
AML (Anti-Money Laundering) is the process of detecting and preventing money laundering activities.
CTF (Counter-Terrorist Financing) is the process of detecting and preventing the financing of terrorism.
AML regulations are aimed at preventing criminals from disguising illegally obtained funds as legitimate income.
CTF regulations are aimed at preventing funds from being used to supp...read more
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