Banking · Financial Technology and Regulations
Consider the following statements regarding banking technology and terminologies: Statement 1: The concept of 'SupTech' involves the use of advanced technology by financial institutions themselves to ensure regulatory compliance. Statement 2: 'Hashtag banking' typically involves a bank customer using specific keywords on a social media platform to initiate simple account inquiries or transactions. Statement 3: The main difference between a 'fraud' and a 'crime' in the context of banking technology is that a fraud always involves the intentional deception of a bank employee, while a crime involves hacking. Which of the statements given above is/are correct?
- 11 only
- 22 only✓
- 31 and 3 only
- 41, 2 and 3
Correct answer
2 only
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