6.Why is Know Your Customer (KYC) important in anti-money laundering?

C. It helps identify users and detect suspicious activity

9.How does Vietnam's anti-money laundering law reduce financial crime?

B. By requiring KYC and reporting suspicious activities

1. Why is promoting cashless payments essential for a digital economy?

To reduce cash use and build an efficient, secure financial system

10.Why is multi-factor authentication important in electronic payment systems?

C. It prevents unauthorized access to user

3. What’s a key challenge in promoting cashless payments?

C. Changing user habits and building trust in digital payments

5.Which method helps prevent electronic payment fraud?

C. Using multi-factor authentication and transaction monitoring

4. What is a legal requirement for electronic payment service providers in Vietnam?

B. Must obtain a license from the State Bank of Vietnam

7. Why must payment intermediaries be licensed by the State Bank of Vietnam (SBV)?

B. To meet technical, security, and fraud prevention standards

8.What is a key responsibility of users in electronic payment systems?

C. Protect personal data and follow service terms

2.How do cashless payments help businesses grow?

C. By cutting costs, improving efficiency, and expanding customer access

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Q&A ABOUT E-PAYMENT

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Answers

1
6.Why is Know Your Customer (KYC) important in anti-money laundering?
D. It reduces the number of customers
B. It hides customer identities
C. It helps identify users and detect suspicious activity
A. It makes registration easier
2
9.How does Vietnam's anti-money laundering law reduce financial crime?
C. By allowing anonymous e-wallets
B. By requiring KYC and reporting suspicious activities
D. By eliminating bank audits
A. By banning cash transactions
3
1. Why is promoting cashless payments essential for a digital economy?
To limit online transactions
B. To reduce dependence on digital services
A. To encourage people to spend more cash
To reduce cash use and build an efficient, secure financial system
4
10.Why is multi-factor authentication important in electronic payment systems?
C. It prevents unauthorized access to user
D. It replaces the need for passwords
A. It simplifies user logins
B. It allows unlimited transactions
5
3. What’s a key challenge in promoting cashless payments?
A. . Lack of receipt printers
C. Changing user habits and building trust in digital payments
D. No internet in urban areas
B. Higher transaction fees
6
5.Which method helps prevent electronic payment fraud?
C. Using multi-factor authentication and transaction monitoring
B. Sharing OTP codes with others
A. Removing all user verification
D. Allowing anonymous payments
7
4. What is a legal requirement for electronic payment service providers in Vietnam?
C. Must use foreign payment gateways
A. Only serve users with international accounts
D. Are not subject to cybersecurity regulations
B. Must obtain a license from the State Bank of Vietnam
8
7. Why must payment intermediaries be licensed by the State Bank of Vietnam (SBV)?
A. To freely operate international transactions
D. To bypass banking regulations
C. To offer cryptocurrency exchange services
B. To meet technical, security, and fraud prevention standards
9
8.What is a key responsibility of users in electronic payment systems?
D. Allow third-party account access for convenience
C. Protect personal data and follow service terms
A. Share OTPs for faster transactions
B. Use public Wi-Fi for all payments
10
2.How do cashless payments help businesses grow?
C. By cutting costs, improving efficiency, and expanding customer access
B. By increasing paperwork and cash storage
A.By reducing digital tool
D. By encouraging only local customers

Q&A ABOUT E-PAYMENT Flashcards | StudBud