SWIFT Has Combated the Growing Issue of Electronic Fraud with Smart

question 40

True/False

SWIFT has combated the growing issue of electronic fraud with smart card technology that no longer requires users to manually log in to the network, and thus eliminates any paper trail.

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Definitions:

Legally Sufficient

Describes evidence or information that meets the established legal standards to support a claim or decision in court.

Consideration

The exchange of something of value in return for the promise or service of another party, a fundamental component of a valid contract.

Promise

A declaration or assurance by one party to another that a particular action or condition will occur or be met, potentially forming the basis of a contractual obligation.

Consideration

Something of value that is promised, given, or done that persuades a party to enter into a contract, making the contract legally enforceable.