Preview Questions Fraud Analyst | Role Specific Skill

Question 1: When analyzing the risk of data breaches, which factor should be the main concern?

Which action should you take?

Choose only one option

Missing antivirus software updates

Lack of compliance with GDPR or other data protection laws

Unexplained increases in database access by employees

Unusual outbound traffic from internal systems

Question 2: In fraud investigations, what is the key difference between suspicious activity reports (SARs) and other types of reporting?

Which action should you take?

Choose only one option

SARs are not shared with regulatory bodies

SARs are required by law for certain transactions

SARs are used for internal fraud detection

SARs only report the final decision on a fraud case

Question 3: How does the USA PATRIOT Act contribute to fraud detection in the financial services industry?

Which action should you take?

Choose only one option

It mandates reporting of large withdrawals

It enforces strict penalties for internal fraud

It mandates the reporting of suspicious financial activity

It requires banks to verify the identity of their customers

Question 4: What is the primary focus of the Bank Secrecy Act (BSA) in the context of fraud analysis?

Which action should you take?

Choose only one option

Mandates the establishment of financial crime reporting systems

Requires regular audits of financial statements

Ensures tax compliance on cross-border transactions

Regulates consumer data protection

Question 5: primary purpose of machine learning in fraud detection systems for BFSI?

Which action should you take?

Choose only one option

Enhancing customer experience

Encrypting financial data

Automating compliance reports

Detecting anomalies in transactions

Question 6: What would be a key focus when investigating an insider fraud case?

Which action should you take?

Choose only one option

Reporting the incident to external law enforcement

Determining the financial loss after the fraud

Identifying how the fraudster exploited internal systems

Tracking the fraudster's external financial accounts