Your Textbook Identified a Number of Mobile Banking Security Risks

question 116

Multiple Choice

Your textbook identified a number of mobile banking security risks. Duplicating the Electronic Serial Number ESM) of one phone and using it in a second phone is called ______________. This allows the perpetrator to have calls and other transactions billed to the original phone.

• A) Phishing
• B) Smishing
• C) Cloning
• D) Vishing

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Definitions:

Covert Collusion

A secret agreement between firms to fix prices or divide the market to limit competition, which is illegal in many jurisdictions.

Oligopolist

A market participant in an oligopoly, a market structure with a small number of firms dominating the industry.

Cigarette Industry

A sector focused on the manufacturing, marketing, and distribution of cigarettes, often scrutinized for health concerns related to smoking.

Local Water Company

A company responsible for providing water supply and wastewater services to a specific local area or community.