28.8.1. Cybersecurity Threats

Try these first

1. 1.

   What is phishing?

   Hint

   Think about emails that ask for your password.

2. 2.

   Give an example of digital fraud.

   Hint

   Consider access to someone's bank account without permission.

3. 3.

   What best describes phishing?

   • A data encryption method
   • A practice to trick users into giving information
   • A direct money transaction

   Hint

   What type of emails often ask for personal information?

4. 4.

   True or False: All FinTech firms are immune to hacking.

   • True
   • False

   Hint

   Think about recent news stories on data breaches.

5. 5.

   Examine how a significant data breach could affect user trust and business operations in a FinTech firm. Propose solutions to mitigate such risks.

   Hint

   Consider focusing on both preventive and reactive measures.

6. 6.

   Evaluate the balance between rapid technological advancement and the increased risk of cyber threats. How can FinTech firms ensure innovation doesn't compromise security?

   Hint

   Think of it as a two-pronged approach where growth and security go hand in hand.