Transaction Monitoring Analyst Interview Questions and Answers

Suspicious transactions can be identified through various factors such as unusual amount, frequency, location, or behavior.

• Look for transactions that are significantly larger or smaller than usual for the customer

• Check for transactions that are out of the ordinary in terms of frequency or timing

• Consider transactions from high-risk locations or countries

• Review transactions that deviate from the customer's typical spending patterns or behavior

• Take into account any alerts or red...read more

I detect suspicious transactions by analyzing transaction patterns, monitoring for unusual activity, and investigating alerts.

• Utilize transaction monitoring software to flag potentially suspicious transactions

• Analyze transaction patterns and look for deviations from normal behavior

• Monitor for high-risk transactions such as large amounts, frequent transactions, or transactions to high-risk countries

• Investigate alerts generated by the monitoring system to determine if further a...read more

The process for filing a Suspicious Transaction Report (STR) involves gathering relevant information, analyzing the transaction, documenting findings, and submitting the report to the appropriate authorities.

• Gather all relevant information related to the suspicious transaction, including transaction details, customer information, and any supporting documentation.

• Analyze the transaction to determine if it meets the criteria for suspicion based on regulatory guidelines and inte...read more

I have detected and prevented multiple fraud cases during my time as a Transaction Monitoring Analyst.

• Detected and prevented numerous fraud cases by analyzing transaction patterns and identifying suspicious activities

• Implemented new monitoring techniques that led to the detection of several fraudulent transactions

• Collaborated with law enforcement agencies to investigate and prosecute fraudsters

• Provided training to team members on fraud detection best practices

• Regularly review...read more