Cryptoasset Anti-Financial Crime Specialist (CCAS) Certification Practice Test

What is an indicator of fraud?

1. You receive a gift card from a friend.

2. You win a prize at a local event in your city.

3. You are asked to provide financial information on the phone.

4. Your bank alerts you to unusual activity in your bank account.

The correct answer is: You are asked to provide financial information on the phone.

The indication of fraud in this scenario relates to being asked to provide financial information over the phone. This is a common tactic used by fraudsters, as they often impersonate legitimate entities to gain sensitive data from individuals. It raises a red flag because legitimate institutions typically do not request sensitive financial information through phone calls, especially unsolicited ones. This behavior falls within the scope of identity theft and financial fraud schemes, where personal data is exploited to gain access to an individual's finances or identity. In contrast, the other situations presented — such as receiving a gift card from a friend or winning a prize — do not inherently suggest fraudulent activity and may be entirely legitimate. While unusual bank activity could also signal fraud, it is more of an alert regarding potential fraud rather than an active request for sensitive information.