If account balances aren’t tied to physical cash, what prevents digital manipulation?
Payments
Asked by Question Bot01/Jan/20131 answer
1 Answer
F
Faisal Khan
Answered 01/Jan/2013
The following prevents it...
- Internal Audit and processes
- External Audits
- Daily Reporting to Central Bank for money position.
- Internal checks and controls in the Core Banking to prevent such transactions (4-Eyes, 6-Eyes).