28.8.2. Digital Fraud

Try these first

1. 1.

   Define digital fraud in your own words.

   Hint

   Think about illegal activities that occur in the digital space.

2. 2.

   What is an account takeover?

   Hint

   Consider hacking or phishing scenarios.

3. 3.

   What is the main objective of digital fraud?

   • To secure online transactions
   • To obtain financial gain through illicit means
   • To provide better customer service

   Hint

   Consider what fraud usually entails.

4. 4.

   True or False: Account takeovers can lead to significant financial losses for consumers.

   • True
   • False

   Hint

   Think about the consequences of unauthorized account access.

5. 5.

   A user reported a suspicious transaction on their account. As a FinTech analyst, outline the steps you would take to investigate and respond to this issue.

   Hint

   Consider what you would need to assess and protect the user.

6. 6.

   Consider a company that experiences a high level of account takeovers. Devise a comprehensive strategy to enhance their security protocols.

   Hint

   Think about the various layers of security and education that can mitigate risks.