Job Description

We are seeking an analytical, detail-oriented Risk Investigator to join our Trust & Safety team in Bengaluru, India. In this role, you will actively investigate and mitigate both financial fraud and money laundering risks across our Consumer, Merchant, AML & Cybercell verticals. You will conduct end-to-end investigations on anomalous transaction flows, process and close cyber fraud cases received via the NCRP-CFCRMS portal, and ensure strict alignment with RBI, NPCI, FIU-IND and applicable financial regulatory mandates. Working alongside Risk Analytics, Chargeback, Onboarding, Finance and Compliance teams, you will serve as a frontline defender safeguarding our payment ecosystem against emerging fraud vectors

- Detect and mitigate merchant-side and consumer fraud across retail QR codes, Payment Gateways (PG), Payment Aggregators (PA), and digital payment channels.

- Monitor and act on alerts for high-risk transactions, sudden volume spikes, and typical settlement patterns.

- Identify and block suspicious profiles involved in fake onboarding, transaction laundering, identity theft, or mule accounts.

- Identify Merchant violations against RBI, NPCI, and internal policies, including business misclassification, KYC gaps, and card-to-cash conversions.

- Execute operational risk decisions regarding fund-withholding, account suspension, or legal escalations to limit financial loss.

- Investigate transactional alerts on consumer payment channels, covering P2P/P2M UPI transactions, digital wallet top-ups/transfers, bill payments, and mobile recharges. to mitigate financial loss.





- Review and take action on Consumer alerts triggered by high-risk transactions, phishing, vishing, remote access app scams, and unusual spending behavior.

- Identify, monitor, and restrict high-risk consumer profiles involved in fake accounts, identity theft, transaction laundering, or money mule networks.

- Deliver data-driven insights to Risk Analytics and Engineering teams to build and refine automated consumer risk models and detection rules.

- Take real-time operational decisions on consumer accounts, including freezing compromised wallets, blocking fraudulent IDs, and restricting user access.

- Evaluate transactional logs and customer data to identify anomalies and patterns across merchant categories and consumer segments.

- Map detective and preventative controls to mitigate structural risk and recommend process improvements to prevent future incidents.

- Analyze structured transactional data to flag indicators of money laundering, smurfing, layering, and potential terrorist financing.

- Conduct first-level AML alert reviews, compile documentary evidence, and draft Ground of Suspicion (GOS) notes for STRs & SARs filing to FIU-IND in accordance with RBI guidelines.

- Develop & maintain detailed case files and investigation reports with transparent conclusions, evidence, and organized documentation to support compliance audits & regulatory examinations

- Investigate, action, and ensure timely closure of cyber fraud reports routed through the NCRP-CFCRMS

- Review and resolve screening alerts generated against domestic and global watchlists (UNSC, MHA/UAPA, OFAC), Politically Exposed Persons (PEP) registries, and adverse media databases.

📌 Risk Investigator, T&S Ops (Bengaluru)
🏢 Phonepe
📍 Bengaluru