10+ Wipro Fraud Analyst Interview Questions and Answers

Fraud is a deliberate deception for personal gain. It can be stopped by implementing fraud prevention measures.

• Fraud can occur in various forms such as identity theft, credit card fraud, insurance fraud, etc.

• To prevent fraud, companies can implement measures such as background checks, fraud detection software, and employee training.

• Consumers can protect themselves by being cautious of suspicious emails, phone calls, and websites, and regularly monitoring their financial accou...read more

Credit cards allow users to borrow money from the card issuer up to a certain limit, while debit cards are linked to the user's bank account and funds are directly withdrawn.

• Credit cards allow users to borrow money up to a certain limit set by the card issuer.

• Debit cards are linked to the user's bank account and funds are directly withdrawn from the account when making a purchase.

• Credit cards typically have higher interest rates and fees compared to debit cards.

• Credit cards c...read more

CVV is a security code on credit/debit cards. It is unique to each card and cannot be used with another card.

• CVV stands for Card Verification Value and is a 3 or 4 digit security code on credit/debit cards.

• It is used to verify that the person making the purchase actually possesses the card.

• CVV is unique to each card and cannot be used with another card.

• If someone has both the card number and CVV, they can potentially make fraudulent transactions.

Fraud is a deliberate deception to secure unfair or unlawful gain, often involving false information or misrepresentation.

• Fraud involves intentional deception or misrepresentation

• It is committed to gain an unfair advantage or financial benefit

• Common types of fraud include identity theft, credit card fraud, and insurance fraud

Credit cards allow users to borrow money from the card issuer, while debit cards deduct funds directly from the user's bank account.

• Credit cards allow users to make purchases on credit, with the card issuer lending the money for the transaction.

• Debit cards deduct funds directly from the user's bank account at the time of purchase.

• Credit cards typically have a credit limit, while debit cards are limited to the available funds in the linked bank account.

• Credit cards may charge ...read more

Fraud is the intentional deception for personal gain or to cause harm.

• Fraud involves intentional deception or misrepresentation

• It is committed for personal gain or to cause harm

• Examples include identity theft, credit card fraud, and insurance fraud

Phishing is a type of cyber attack where fraudsters attempt to obtain sensitive information such as usernames, passwords, and credit card details by pretending to be a trustworthy entity.

• Phishing involves sending fraudulent emails or messages that appear to be from legitimate organizations, such as banks, in order to trick individuals into providing their personal information.

• Common phishing tactics in the banking sector include fake websites that mimic the appearance of a ba...read more

Online fraud refers to fraudulent activities conducted over the internet, including phishing, identity theft, and credit card fraud.

• Phishing: fraudulent attempts to obtain sensitive information such as usernames, passwords, and credit card details by disguising as a trustworthy entity in electronic communication.

• Identity theft: stealing someone's personal information to commit fraud, such as opening bank accounts or applying for loans in their name.

• Credit card fraud: unauthor...read more

Wipro Limited is an Indian multinational corporation that provides information technology, consulting and business process services.

• Wipro was founded in 1945 in India.

• It is one of the largest IT services companies in the world.

• Wipro offers services such as IT consulting, system integration, and outsourcing.

• The company has a presence in over 60 countries.

• Wipro is known for its innovation and digital transformation solutions.

Fraud cases should be handled promptly and thoroughly to prevent further losses and protect the company's reputation.

• Investigate the fraud case thoroughly to determine the extent of the fraud and identify the perpetrator.

• Gather evidence such as transaction records, communication logs, and witness statements.

• Report the fraud to the appropriate authorities and cooperate with any investigations.

• Implement measures to prevent future fraud, such as improving security protocols and ...read more

Types of fraud commonly seen include identity theft, credit card fraud, and insurance fraud.

• Identity theft: When someone steals personal information to commit fraud.

• Credit card fraud: Unauthorized use of someone's credit card information.

• Insurance fraud: Falsifying information to make fraudulent claims.

• Online scams: Phishing emails, fake websites, and social engineering tactics.

• Healthcare fraud: Billing for services not provided or unnecessary procedures.

• Investment fraud: Pon...read more