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Chip Card

Chip card, also known as smart card, is a type of plastic payment card that uses integrated circuit chips to store and process information. Unlike traditional magnetic stripe cards, chip cards have a microchip embedded within the card that contains a secure digital memory. Key features of chip cards: Microchip: Stores and processes data securely. […]

1 min read

Online Shoplifting

Online Shoplifting Online shoplifting, also known as cybertheft or electronic forgery, is the act of fraudulently obtaining goods or services from an online store using various techniques. It involves exploiting vulnerabilities in online systems, manipulating payment information, and exploiting weak security measures. Types of Online Shoplifting: Credit Card Fraud: Utilizing stolen credit card numbers to […]

2 mins read

Insurance Grace Period

The “insurance grace period” refers to a specific timeframe in which you can purchase insurance coverage without penalty or late fees. It’s offered by various insurance companies as a way to encourage new customers and ease the transition process. This period typically lasts for a few days or weeks, although the exact duration varies depending […]

1 min read

Atm Card

An ATM card, also known as a debit card, is a plastic card that allows you to access your money from an automated teller machine (ATM) or any other electronic payment terminal that accepts that particular card. Unlike a credit card, which allows you to borrow money, an ATM card is linked directly to your […]

1 min read

Fraud

Definition: Fraud is an illegal act that involves deception and often financial gain. It encompasses a wide range of activities, including forgery, embezzlement, fraud by false representation, and identity theft. Types of Fraud: Embezzlement: Misappropriation of funds or assets entrusted to an individual or organization. Forgery: Creating fraudulent documents, such as checks, invoices, and passports. […]

2 mins read

Epf Withdrawal

EPF Withdrawal Rules: The Employees Provident Fund (EPF) scheme allows employees to withdraw their contributions and interest earned under the scheme in certain circumstances. Here are the key rules governing EPF withdrawal: Types of Withdrawals: Normal Withdrawal: This is the most common type of withdrawal, available to members who have accumulated a sufficient corpus in […]

2 mins read

Secured Credit Card

A secured credit card is a type of credit card that requires a security deposit to open and maintain. This deposit acts as a credit limit for the card, and the issuer uses it to determine your credit worthiness. Here are the key features of a secured credit card: Required security deposit: To open a […]

2 mins read

Certificate Of Deposit

Definition: A certificate of deposit (CD) is a type of savings account that offers a higher interest rate than a traditional savings account in exchange for a fixed term. CDs are typically offered by banks and other financial institutions. Key Features: Fixed term: CDs have a set term, which can range from a few months […]

2 mins read

Missent Item

Definition: The term “missent item” refers to an item that has been incorrectly sent or transferred to the wrong recipient or destination. Cause: Human error Technical malfunction Misinterpretation of instructions System errors Examples: A letter meant for Mr. Smith was sent to Mr. Jones instead. A package intended for delivery to New York was mistakenly […]

1 min read

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