Transaction Monitoring Officer Interview Questions and Answers

My typing speed is 70 words per minute.

• My typing speed is 70 WPM.

• I have experience typing quickly and accurately.

• I am proficient in using keyboard shortcuts to increase my typing speed.

• I have completed typing tests with an average speed of 70 WPM.

Anti money laundering (AML) refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

• AML aims to detect and prevent money laundering activities within financial institutions.

• It involves monitoring transactions, conducting due diligence on customers, and reporting suspicious activities to authorities.

• Examples of AML measures include customer identification programs, transaction monitoring s...read more

A mule account is a bank account used to transfer illegally obtained money.

• Mule accounts are typically opened by individuals who are recruited by criminals to help launder money.

• The individuals who open mule accounts are often unaware that they are participating in illegal activities.

• Criminals use mule accounts to move money around in order to avoid detection by authorities.

• Mule accounts are a common tool used in money laundering schemes.

• Examples of mule accounts include acco...read more

AML flow of the process refers to the steps taken to monitor and detect potential money laundering activities.

• Customer onboarding and due diligence

• Transaction monitoring and analysis

• Suspicious activity reporting

• Investigation and escalation

• Compliance with regulatory requirements