When answering this question, focus on demonstrating your analytical skills, attention to detail, and ethical standards. Start by briefly describing the context of the situation. Explain how you identified the potential fraud, including any specific red flags or anomalies you noticed. Detail the steps you took to investigate the issue, such as gathering additional information, consulting with colleagues, or using specialized tools. Finally, describe the outcome and any measures you implemented to prevent future occurrences. For example:
"In my previous role as an underwriter, I once noticed inconsistencies in an applicant's financial statements. The income reported seemed unusually high compared to industry standards. I conducted a thorough review, cross-referencing the information with external databases and consulting with our fraud detection team. We discovered that the applicant had falsified their income documents. As a result, we denied the application and implemented additional verification steps for future applications to prevent similar cases."
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