Enhancing Online Banking Security: The Future of Fraud Prevention

The video discusses a new tactic by banks to combat fraud, involving a gadget that generates a unique code for online banking verification. While this hardware solution is being trialed by 30,000 UK customers, its effectiveness is questioned due to potential theft and the need for a software solution.

What problem are banks trying to address with their new tactic?

• Increasing transaction fees

• Customer dissatisfaction

• Fraud prevention

• Technical glitches

What is the first step customers must take when using the new online banking tactic?

• Update their software

• Contact customer service

• Enter their user ID and password

• Generate a unique code

How is the unique code generated for online banking verification?

• Via email

• By a gadget issued to customers

• Through a mobile app

• Using a phone call

What concern is raised about the gadget used in the new banking tactic?

• It is too expensive

• It can be easily stolen

• It is difficult to use

• It requires frequent updates

How many customers are participating in the trial of the new banking tactic in the UK?

• 10,000

• 20,000

• 30,000

• 40,000