Senior Fraud Analyst

Senior Fraud Analyst Interview Questions and Answers

Updated 9 Oct 2024

Q1. If the user would not get OTP to access the profile?

Ans.

If the user does not receive OTP to access their profile, they should first check their internet connection and then contact customer support.

Check internet connection to ensure OTP delivery
Contact customer support for assistance
Verify contact information for accuracy
Consider alternative authentication methods

Q2. What would happened if the user would not be able to use the card?

Ans.

If the user is unable to use the card, they may experience inconvenience, potential financial loss, and may need to contact the card issuer for assistance.

User may face inconvenience in making purchases or transactions
User may incur financial loss if unable to access funds on the card
User may need to contact the card issuer for assistance or to report the issue

Q3. How would i f-identify whether the access was done the member or the scammer

Ans.

To identify whether the access was done by the member or the scammer, analyze login patterns, IP addresses, device information, and behavior.

Analyze login patterns - look for unusual login times or frequency
Check IP addresses - compare the location of the access to the member's usual locations
Review device information - see if the device used for access matches the member's known devices
Monitor behavior - look for any suspicious activity or changes in behavior

Q4. What do you know about chargeback and fraud

Ans.

Chargeback and fraud are common issues in financial transactions, involving unauthorized transactions and disputes.

Chargeback is a process where a customer disputes a transaction and the funds are returned to the customer.
Fraud involves unauthorized or deceptive activities to gain financial advantage.
Fraud can occur through various methods such as identity theft, phishing, and card skimming.
Fraud analysts use data analysis and investigation techniques to detect and prevent fr...read more

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Q5. What is false positive and false negative

Ans.

False positive and false negative are errors in which a test result incorrectly indicates the presence or absence of a condition.

False positive: When a test incorrectly indicates that a condition is present when it is not.
False negative: When a test incorrectly indicates that a condition is not present when it actually is.
Examples: A false positive in fraud analysis would be flagging a legitimate transaction as fraudulent. A false negative would be failing to flag a fraudulen...read more

Q6. What are the types of Fraud

Ans.

Types of fraud include identity theft, credit card fraud, insurance fraud, and investment 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 receive insurance benefits
Investment fraud: Deceptive practices in the financial markets

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Q7. Challenges faced in fraud department

Ans.

Challenges in fraud department include evolving fraud tactics, high volume of transactions, and balancing fraud prevention with customer experience.

Evolving fraud tactics require constant monitoring and updating of fraud detection systems.
High volume of transactions increases the likelihood of fraudulent activity going unnoticed.
Balancing fraud prevention measures with providing a seamless customer experience can be challenging.
Collaborating with other departments such as IT ...read more