JAIIB Paper 2 Module C Quiz 8

Correct answer: Option 4. Credential stuffing exploits password reuse. Unique passwords, MFA, rate limiting, breached-credential detection and monitoring can reduce risk. Topic area: Cyber Crime and Fraud Risk — Credential stuffing.

Correct answer: Option 1. SIM swap fraud may let an attacker receive SMS-based authentication messages. Banks and customers should watch for unexpected loss of mobile service and suspicious account activity. Topic area: Cyber Crime and Fraud Risk — SIM swap fraud.

Correct answer: Option 3. BEC often uses convincing messages and urgent requests. Independent verification of payment instructions and changes to beneficiary details is an important control. Topic area: Cyber Crime and Fraud Risk — Business Email Compromise (BEC).

Correct answer: Option 1. Vishing uses phone calls or voice messages to impersonate trusted parties. Customers should end suspicious calls and contact the bank through official channels. Topic area: Cyber Crime and Fraud Risk — Vishing.

Correct answer: Option 1. Smishing messages may contain malicious links or urgent claims. Customers should avoid links from unknown sources and independently verify messages with the bank. Topic area: Cyber Crime and Fraud Risk — Smishing.

Correct answer: Option 1. A trojan tricks users into installing or running malicious code. Installing software only from trusted sources and using endpoint protections help reduce exposure. Topic area: Cyber Crime and Fraud Risk — Trojan horse.

Correct answer: Option 2. Keyloggers may capture passwords or other sensitive input. Endpoint protection, trusted devices, MFA and avoiding suspicious downloads can help mitigate risk. Topic area: Cyber Crime and Fraud Risk — Keylogger.

Correct answer: Option 2. Mitigations include authenticated encryption, certificate validation, secure network configuration and avoiding untrusted connections for sensitive activity. Topic area: Cyber Crime and Fraud Risk — Man-in-the-middle attack.

Correct answer: Option 3. Account takeover can follow credential theft, phishing or SIM swap. Risk-based authentication, alerts, monitoring and rapid reporting can help limit harm. Topic area: Cyber Crime and Fraud Risk — Account takeover.

Correct answer: Option 3. Fraud proceeds may be routed through mule accounts. Transaction monitoring, customer due diligence and timely reporting support detection and investigation. Topic area: Cyber Crime and Fraud Risk — Money mule account in cyber fraud.

Correct answer: Option 4. An online scam can be both fraud and cybercrime. The concepts are related but not identical; classification depends on conduct and applicable law. Topic area: Cyber Crime and Fraud Risk — Fraud vs cybercrime.

Correct answer: Option 3. Rapid reporting may help the bank attempt to block or trace funds and supports investigation. Preserve transaction references and use official contact channels. Topic area: Cyber Crime and Fraud Risk — First response to suspected cyber fraud.

Correct answer: Option 4. Containment can include isolating affected systems, disabling compromised credentials and blocking malicious traffic. Actions should be coordinated and documented to avoid destroying evidence. Topic area: Cyber Crime and Fraud Risk — Incident containment.

Correct answer: Option 3. Root-cause analysis examines technical, process and human factors. Corrective actions should be tracked, tested and incorporated into training and controls. Topic area: Cyber Crime and Fraud Risk — Root-cause analysis after an incident.

Correct answer: Option 4. Preserving evidence supports investigation and legal processes. Relevant controls include access restrictions, reliable timestamps, chain-of-custody documentation and forensic copies. Topic area: Cyber Crime and Fraud Risk — Digital evidence preservation.

Correct answer: Option 2. Monitoring rules help prioritise suspicious transactions but can produce false positives and false negatives. Alerts need risk-based review and tuning. Topic area: Cyber Crime and Fraud Risk — Fraud monitoring rule.

Correct answer: Option 1. Severity helps direct resources and escalation. Financial impact, data sensitivity, affected services and spread are common considerations. Topic area: Cyber Crime and Fraud Risk — Incident severity classification.

Correct answer: Option 4. Cyber insurance coverage depends on policy wording, exclusions and conditions. Prevention, response planning, reporting and resilience remain essential. Topic area: Cyber Crime and Fraud Risk — Cyber insurance.

Correct answer: Option 4. Responsible disclosure allows the organisation to validate and remediate a vulnerability while reducing harm. Testing should remain within authorised scope. Topic area: Cyber Crime and Fraud Risk — Responsible vulnerability disclosure.

Correct answer: Option 4. Fraud risk is cross-functional. Effective governance assigns responsibilities for prevention, detection, escalation, investigation and remediation. Topic area: Cyber Crime and Fraud Risk — Fraud risk ownership.