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Frauds in Banking
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5
1.
What was the name of the RBI booklet on the strategies used by financial fraudsters?
“BE(A)LIVE”
“BE(A)WAKE”
“BE(A)WARE”
“BE(C)ONSCIOUS”
2.
Which of the following is NOT a method/security used to secure payment systems?
Biometric Authentication
Tokenization
Public Key Infrastructure (PKI)
Vishing
3.
Which technology replaces sensitive payment information, like card numbers, with unique codes to enhance security during transactions?
Encryption
Tokenization
Biometric Authentication
Two-Factor Authentication
4.
What is the main advantage of using Dynamic CVV over static CVV for payment security?
It uses biometric data for authentication.
It generates a new code periodically, reducing the risk of fraud.
It requires two-factor authentication for transactions.
It encrypts the cardholder’s data end-to-end.
5.
What is a common technique used by fraudsters to steal user credentials like PINs and OTPs?
Tokenization
Phishing
Dynamic CVV
Biometric Authentication
Submit Test
These questions are part of Banking Awareness - 2025-26 course in GKToday's Android Application. The Course comprises 2400+MCQs on Banking & General Financial Awareness with explanation for All Banking Exams of 2025-26 such as IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking Examinations.
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