Preview Questions AML Specialist | Role Specific Skill

Question 1: Which AML risk management technique is typically used to manage high-risk customers in an institution's portfolio?

Which action should you take?

Choose only one option

Automated reporting

Enhanced due diligence (EDD)

Basic customer due diligence

Transaction monitoring only

Question 2: How does fraudulent transaction profiling enhance AML compliance in fraud detection systems?

Which action should you take?

Choose only one option

By creating a baseline of normal activity to identify deviations

By simplifying compliance reporting for regulators

By automatically flagging all customer accounts over a certain age

By offering automatic approvals for high-volume transactions

Question 3: How does the integration of AI and machine learning improve AML reporting and investigation processes?

Which action should you take?

Choose only one option

By automating the identification of suspicious patterns and reducing manual work

By removing the need for human analysts

By increasing customer retention

By simplifying regulatory reporting

Question 4: What is the primary focus of AML risk management training for compliance staff?

Which action should you take?

Choose only one option

To train staff on the use of financial accounting systems

To ensure staff can detect and respond to suspicious activities effectively

To familiarize staff with general banking operations

To enable staff to manage customer relationships

Question 5: How does transaction monitoring help in detecting potential fraud in AML compliance?

Which action should you take?

Choose only one option

By analyzing transactions in real-time to identify suspicious patterns

By analyzing customer demographics

By enhancing customer satisfaction through faster approvals

By automatically blocking all high-value transactions

Question 6: Which of the following is not a typical fraud detection technique used to combat internal fraud in the BFSI industry?

Which action should you take?

Choose only one option

Implementing external surveillance systems to track employees

Monitoring employees' online behavior and work activities

Segregating duties to prevent unauthorized access to financial systems

Limiting access to sensitive information based on job roles