Asked by Quinn Duncan on May 12, 2024
Verified
Which of the following statements is true regarding detecting fraudulent payment in online transaction systems?
A) Businesses have no options to prevent fraud.
B) Insurance that covers fraudulent payments in online transaction systems is not available.
C) Online business cannot require more extensive authentication procedures when a customer makes a payment.
D) There are no options for online businesses to properly authenticate the customer making a payment.
E) Businesses have several options for ensuring their online transaction system can detect fraudulent payment.
Fraudulent Payment
A transaction made with the intent to deceive, defraud, or mislead another party, typically involving the transfer of funds.
Online Transaction Systems
Digital platforms and methods used for conducting financial transactions over the internet.
- Recognize electronic signatures and the legal framework governing them.
Verified Answer
GK
Grace KazakMay 19, 2024
Final Answer :
E
Explanation :
Businesses have various methods and technologies at their disposal to detect and prevent fraudulent payments in online transactions, such as advanced authentication procedures, fraud detection software, and secure payment gateways.
Learning Objectives
- Recognize electronic signatures and the legal framework governing them.
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