5.

Internet
Unit 0000 banking

A. Write the words into the spaces below.

applications 앫 authentication 앫 encrypted

a. Customers with facilities for Internet (i.e. a hacker) to access the information.
banking (also known as online banking) can d. However, hackers can gain access to
use their bank’s or building society’s website inadequately 7 _______________ home PCs,
to carry out payments and other 1 and can record the password as it is typed in
_______________ over the Internet. This form (keylogging). Spyware and other malicious
of banking can be done outside business hours programs can record private banking details,
and from anywhere with Internet access. and send them to a third party. A more
Features of Internet banking include payment commonplace danger is written passwords and
of bills, funds transfers between a customer’s PINs falling into the wrong hands.
own accounts, transfers to a third party’s e. Internet banking is perceived by some as
account, loan 2 _______________ and viewing
being too vulnerable to fraud to consider using.
bank statements.
However, the number of 8 _______________
b. In addition to the Internet banking 3
of Internet banking fraud is very small.
_______________ offered by high-street
Statistically, in fact, conventional banking
banks, a new generation of banks operate
activities carry a higher risk of fraud than
exclusively online. These banks tend to offer
Internet banking – simple credit card fraud and
high interest rates on savings accounts and low
various forms of identity theft are far more
rates on loans because their overheads are
widespread. It is far easier to obtain banking
much lower than those of traditional banks.
and other details by going through a bag of
c. Security has become a key issue in Internet
banking. For most secure Internet sites, rubbish and collecting old bank statements etc.
such as Internet shopping sites, single than it is to obtain it by hacking.
password 4 _______________ is considered f. Generally speaking, unless users are careless
sufficient. In an increasing number of or gullible, Internet banking does not carry a
countries, this is no longer considered adequate great level of risk. Nevertheless, criminals
for Internet banking. In these cases, entry to the continue to come up with inventive ways to
site requires the input of one of a selection of access accounts. An example is “phishing” –
passwords and multiple 5 _______________. using emails purporting to be from the
All information is 6 _______________, customer’s bank to persuade people to hand
making it almost impossible for a third party over their 9 _______________.

B. Find words in the article which mean the same as the following.

1. money (paragraph a) ______________________

2. another person or company (paragraph a) ______________________

3. only (paragraph b) ______________________

4. business expenses (paragraph b) ______________________

14
For reference see A & C Black Dictionary of Banking and Finance (978-07136-7739-3).