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GLOBAL FINANCE WITH ELECTRONIC BANKING > MODULE 5 > Flashcards

MODULE 5 Flashcards

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1
Q

The risk arising when a borrower or counterparty fails to meet financial obligations

A

Credit risk

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2
Q

The potential for losses due to changes in market conditions such as interest rates, foreign exchange rates, and stock prices

A

Market risk

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3
Q

Losses caused by inadequate internal processes, human error, or system failures, including cybersecurity threats

A

Operational risk

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4
Q

Risks arising from data breaches, fraud, and identity theft

A

Cybersecurity and fraud risk

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5
Q

A tool used to estimate the maximum potential loss on a portfolio under normal market conditions

A

Value at Risk

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6
Q

A security process requiring users to verify their identities through multiple steps

A

Multi-factor authentication

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7
Q

A framework used to identify and mitigate operational risks across an organization

A

Risk and Control Self-Assessment framework

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8
Q

Scrambling data during transmission to protect it from being intercepted

A

Encryption

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9
Q

The use of fingerprints or facial recognition for secure access to banking platforms

A

Biometric authentication

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10
Q

A decentralized alternative to traditional banking, providing secure and transparent transaction processing

A

Blockchain

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11
Q

Allows third-party applications to access bank data with user consent, fostering personalized financial services

A

Open banking

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12
Q

A framework ensuring banks maintain sufficient capital buffers to withstand potential losses

A

Basel Accords

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13
Q

A tool simulating adverse market scenarios to identify vulnerabilities in financial portfolios

A

Stress testing

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14
Q

An event where hackers exploited weaknesses in a bank’s SWIFT network security to steal $81 million

A

Bangladesh Bank heist

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15
Q

A Philippine mobile banking app that allows clients to access e-wallets, transfer funds, and pay bills

A

UnionBank app

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16
Q

A digital payment method widely accepted in the Philippines for fast and cashless transactions

A

GCash

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17
Q

A cyber fraud incident in 2021 where fraudsters illegally accessed customer accounts and transferred funds

A

BDO Unibank cyber fraud

18
Q

The use of AI algorithms to analyze transaction behaviors and detect fraud attempts

A

AI-driven fraud detection

19
Q

The global financial crisis exemplifying failures in managing credit and market risk

A

2008 financial crisis

20
Q

A security measure used to identify unusual transaction patterns and monitor for suspicious activities

A

Anti-fraud detection systems

21
Q

A framework used by banks to ensure compliance with regulatory standards and internal controls

A

Operational risk management frameworks

22
Q

The tool that helps assess the likelihood of default among borrowers

A

Credit scoring models

23
Q

A tool used to simulate adverse scenarios for better risk preparation

A

Stress testing

24
Q

A cybersecurity measure ensuring transaction confidentiality

A

End-to-end encryption

25
Q

A Philippine bank known for its user-friendly digital banking interface

A

UnionBank

26
Q

The rapid adoption of technology reshaping financial transaction security

A

Digital transformation

27
Q

A security process requiring OTPs for transaction verification

A

One-time passwords

28
Q

A global bank utilizing AI algorithms for risk assessment

A

JPMorgan Chase

29
Q

The technology enabling seamless financial services integration with consent

A

Open banking APIs

30
Q

An organization setting global standards for capital adequacy in banking

A

Basel Committee on Banking Supervision

31
Q

The major 2014 data breach affecting millions of households

A

JPMorgan Chase data breach

32
Q

The banking service offering decentralized remittance processing

A

Blockchain-based remittance

33
Q

A global financial giant investing in cryptocurrency infrastructure

A

Goldman Sachs

34
Q

The practice of regularly simulating market downturns to test stability

A

Stress testing practices

35
Q

An emerging trend enabling personalized financial services using customer data

A

AI-driven banking solutions

36
Q

The rise of fintech firms challenging traditional banking models

A

Competitive pressure from fintech

37
Q

The Philippine central bank’s guidelines for promoting interoperability in digital finance

A

Bangko Sentral ng Pilipinas open banking initiative

38
Q

The global crisis resulting from inadequate credit and risk assessments

A

2008 financial crisis

39
Q

A mobile wallet offering financial inclusion in rural Philippines

A

GCash

40
Q

A major cyber threat targeting banks due to increasing digital adoption

A

Phishing attacks

GLOBAL FINANCE WITH ELECTRONIC BANKING (7 decks)

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