“Skimming” in e-banking refers to :
Identifying fraudsters copying vital information from credit cards
Skimming is a form of electronic banking fraud in which a small device (a skimmer) is fitted on an ATM, POS terminal or card reader to secretly copy the data stored on a card's magnetic stripe, often along with the PIN captured by a hidden camera or fake keypad.
The copied details are then used to make a cloned card and carry out unauthorised transactions. Recognising and tracking such fraudsters who copy vital card information is what the term points to in e-banking security.
Making several transactions with one card is ordinary card usage, and converting a debit card into a credit card is not a banking practice at all; neither describes skimming. Since one description does fit, "None of the above" is ruled out.
Hence, the answer is Identifying fraudsters copying vital information from credit cards.
Similar Questions
To operationalise online, internet, mobile banking, debit card and credit card tools, some of the essential ingredients are :
Important Questions from Mobile Banking
Mobile Money Identifier is a ________ digit code issued by banks to their customers.
Which of the following are objectives of Immediate Payment Service (IMPS)?
A. To enable bank clients to use mobile instruments as a channel for accessing their bank accounts and remit funds
B. To build the foundation for a full range of mobile based banking services.
C. To sub-serve the goal of Reserve Bank of India (RBI) in digital payments.
D. To make payments simpler with the mobile number of the baneficiary
E. To restrain a nation-wide payment system facilitating one-to-one funds transfer
Choose the most appropriate answer from the option given below:
Which three of the following types of cyber attacks may occur in the process of mobile banking?
a) Backdoor attack
b) Front door attack
c) Denial of service attack
d) Direct access attack
Choose the correct option from those given below:
The minimum capital requirement for a life insurance company in India is :
Universal banks that function as investment banks in India are regulated by :
