1.

(a) List the securities features available in E-Banking. (b) What do you mean by term “Phishing”?

Answer»

(a) Security features available in the E- banking are:

  • Security token device for online banking 
  • Use of a secure website has become almost universally adopted 
  • Single password authentication
  • PIN/ TAN (Transaction authentication number) 
  • system where the PIN represents a password, used for the login 
  • OTP (One time password) to user's (GSM) mobile phone via SMS. 
  • Signature based online banking where all transactions are signed and encrypted digitally

(b) “Phishing” is one of the most commonly used forms of cyber attack. Phishing is the criminal attempt to acquire personal information such as usernames, passwords, and credit card details by masquerading as a trustworthy individual or entity in all sorts of electronic communication such as e-mail, websites and call to action notices.”



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