- 19 Marks
BSIM – April 2024 – L3 – Q1 – Card Management Fraud in Electronic Business Department
Addressing card management fraud in electronic business, outlining risks in electronic banking and payment channels, and measures to protect customers.
Question
The Leadership of a prominent Financial Institution has detected instances of Card Management Fraud occurring within the Electronic Business Department. You have been selected to serve as an Advisor to the Management Committee, tasked with aiding in the identification of these fraudulent activities and implementing measures to remedy them.
a. Outline and elaborate on four (4) risks linked with Electronic Banking and the utilization of Electronic Payment Channels. (12 marks)
b. How would you guarantee that customers are shielded from the adverse consequences of these fraudulent activities? Offer two (2) examples. (8 marks)
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