Internet / Online Banking
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Digital Banking — Digital Banking.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
What special network segment hosts a bank's customer-facing internet banking web-server so that the core banking system is not directly exposed to the public internet?
This segment is called a De-Militarized Zone (DMZ). It acts as a buffer between the public internet and the internal core banking infrastructure.
What authentication method uses a short-lived, one-time code sent via SMS to prevent phishing even when static credentials are stolen?
Two-Factor Authentication using a dynamic OTP
Which software component links a net banking customer to his Core Banking System accounts and allows him to transact through webpage menus?
The internet banking software (application) links the customer to his CBS accounts and enables transactions through web-based menus. It acts as the interface between the customer's browser and the bank's back-end systems.
Which fraud technique involves gathering banking credentials primarily through deceptive emails?
Phishing
When a customer purchases mutual funds through online banking, how are the financial flows handled between his bank account and his demat account?
The purchase amount is debited from the customer's bank account and the acquired units or shares are credited to his demat account. The fund movement itself runs through the bank/CBS accounts, not directly between the demat account and the seller.
What is the term for obtaining sensitive financial information from customers through fraudulent telephone calls?
Vishing
What is the primary purpose of placing a web-server in a DMZ for internet banking?
The DMZ ensures the core banking system is not directly exposed to the public internet, providing a security buffer. It allows customers to access internet banking while protecting internal bank systems from direct external threats.
Which cyber fraud method involves sending deceptive SMS messages to trick customers into revealing credentials?
Smishing
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