EFT (Electronic Funds Transfer): Refers to the digital transfer of money from one bank account to another, either within the same financial institution or across different institutions, via computer-based systems. EFTs include a variety of financial transactions, such as direct deposits, wire transfers, direct debits, online bill payments, and transactions initiated through credit or debit cards. EFTs enable quick and secure movement of funds, reducing the need for paper checks and cash handling. They are widely used for both personal and business financial transactions.
Categories: CC D4: Network Security | CCSP D3: Cloud Platform and Infrastructure Security | CISM D3: Information Security Program | CISSP D1: Security and Risk Management | Security+ D5: Security Program Management and Oversight | SSCP D5: Cryptography
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