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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-5

  • question_answer
    A type of fraud wherein criminals use and innocent persons details to open or use an account to carry out financial transactions is known as

    A)  Identity Theft

    B)  Money Laundering       

    C)  Hacking

    D)  Espionage

    E)  Phishing                

    Correct Answer: A

    Solution :

          In banking terminology, Identity Theft refers to a situation when criminals use an innocent person's details to open or use an account to carry out financial transactions. It is very easy to do with an individual's personal details, which is why shredding confidential information is so important.


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