Your Textbook Identified a Number of Mobile Banking Security Risks

question 111

True/False

Your textbook identified a number of mobile banking security risks.Using a fraudulent communication,such as an e-mail,to trick the receiver into divulging critical information such as account numbers,passwords,or other identifying information is called phishing.

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Definitions:

Checks Outstanding

Checks that have been written and recorded in the check issuer's accounting system but have not yet been cashed or cleared by the bank.

Deposit In Transit

Funds that have been sent to a bank but have not yet been processed and added to the account balance.

Note Collected

The action of receiving payment or settling a promissory note, where one party pays the amount owed to another.

Bank Service Charges

Fees charged by a bank for the handling of accounts, provision of services, or the execution of transactions.