Your textbook identified a number of mobile banking security risks.Duplicating the Electronic Serial Number (ESM)of one phone and using it in a second phone is called phishing.This allows the perpetrator to have calls and other transactions billed to the original phone.

Question

Quizplus · Accepted Answer

The definition given for phishing in the question is incorrect. Phishing refers to fraudulent attempts to obtain sensitive information such as usernames, passwords, and credit card details by disguising oneself as a trustworthy entity in electronic communication. Duplicating the Electronic Serial Number (ESN) of one phone and using it in a second phone is called cloning, not phishing. This allows the perpetrator to make and receive calls and other transactions using the cloned phone, but does not enable them to bill the original phone.

Your Textbook Identified a Number of Mobile Banking Security Risks