Banking · Core Banking System Security
Regarding network security implementation in Core Banking Systems (CBS): Statement I: A Virtual Private Network (VPN) creates an encrypted tunnel over a public network like the internet, allowing remote branches to access the central CBS as if directly connected to a private local network. Statement II: Public Key Infrastructure (PKI) and Digital Signatures ensure the 'Non-Repudiation' of transactions, meaning the initiator cannot deny having performed them. Statement III: Data Encryption only protects data stored on hard drives (at rest) and is ineffective for data moving through networks. Which of the statements above are correct regarding digital communication security in banking?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only II and III
- 3Only I and II✓
- 4Only I
Correct answer
Only I and II
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