Fraud Prevention Quiz

Which of these is not part of 1st Line of Defense:

• Front line of sales

• RMCU

• Operations team

• Manager level employees in Sales

Using own / relatives bank account for routing customer's premium payment

• Is Business loss and can result into Caution / Warning / Termination depending on severity

• Is AML violation and can result into Termination

• Is acceptable mode of payment with declaration from customer

• Is misselling and can result into Warning to the parties involved

Malpractice matrix is applicable to:

• Employees in Sales function

• All employees irrespective of their level

• Only for FLS & their L1 level

• Operations team

What is an employee supposed to do when they comes across a Fraudulent/Suspicious Incident:

• Discuss the incident with the person committing fraud

• Ignore the incident and concentrate on own area of work as per goal sheet

• Discuss the issue with everyone during team meeting

• Immediately report the incident to RMCU team

To prevent Fraudulent Death Claims, it is important to _________while sourcing the policies:

• Meet and verify the customer’s existence before sourcing the business and OSV only after verifying originals

• Ensure accuracy of customer details in the proposal form and complete disclosure

• Take details from the Customer over a call

• Both (a) & (b)

Sharing of incentive/commission with channel partner or customer will result into:

• Termination

• No action if L1/L2 approves the same

• Caution

• Warning

Sharing of password is allowed for:

• InstaGo for L1’s credentials only

• Credentials of Agents/Channel partner

• Customer’s My Account

• Not allowed as per malpractice matrix

Who can perform insta verification on behalf of customer:

• Employee / agent who logs in the policy

• Any relative of the customer

• Only the customer can perform insta verification

• Both A & B

Incase of financial emergency we can borrow money from the customers / channel partners employees / vendors

• Can be borrowed but should be returned as per the commitment

• Can be borrowed from channel partner employees only

• Can be borrowed from vendors only

• To be avoided as it falls under malpractice matrix

For referring the suspicious cases to RMCU team via “TruRisk – A Risk Management Solution”, you need to visit –

• ESS

• Connect page and select the application from drop down menu

• TEBT

• M Learn