To reduce EFT fraud exposure, which measure should a bank implement?

• A. Separate duties for issuance of access devices and PINs
• B. Send a welcome letter to verify addresses
• C. Ensure PINs are mailed separately
• D. All of the above

Answer: (D)

Reducing EFT fraud exposure hinges on layered controls that limit opportunities for misuse and help catch suspicious activity early. Separating duties for issuing access devices and PINs creates a checks-and-balances environment: one person cannot issue both a card and the PIN, reducing the chance of internal fraud or errors leading to fraud. Verifying addresses with a welcome letter adds a step to confirm the customer’s identity and that the address on file is real, helping detect fraudulent account openings or changes. Mailing PINs separately from the card decreases the risk that a single interception or misdelivery exposes both credentials at once. Together, these measures address different vulnerabilities and provide stronger protection than any single control, making all of them the best approach.