Which of the following tools is used to complete online transactions or mobile banking to combat cyber fraud?
A
One-Time Password (OTP)
B
Automated teller machine (ATM)
C
SMS alerts
D
Core Banking Solution (CBS)
Correct Option:
A
Explanation
An OTP is valid for only one login or transaction, usually for a short period. This makes a stolen OTP far less reusable than a permanent password and is why OTPs are widely used as an additional authentication step for digital transactions.
