Cryptocurrency Q&A
What are 2 disadvantages of an EFT?
What are 2 disadvantages of an EFT?
emma_carter_doctor
Sat Dec 21 2024
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7 answers
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I'm trying to understand the downsides of using an EFT. Specifically, I'm looking for two main disadvantages that are typically associated with this type of transaction or payment method.
7 answers
GangnamGlitzGlamourGlory
Mon Dec 23 2024
One significant drawback of EFT is the risk of fraud. Despite the implementation of various security measures, cybercriminals remain persistent in their attempts to intercept sensitive data during transmission.
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henry_taylor_architect
Mon Dec 23 2024
These criminals utilize sophisticated techniques to breach security protocols, posing a constant threat to the integrity of EFT systems.
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KimchiQueen
Mon Dec 23 2024
Another issue that plagues EFT is technical problems. Server crashes, which can occur due to various reasons such as overload or hardware failure, can disrupt the transaction process.
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KimonoGlory
Mon Dec 23 2024
EFT, despite its numerous advantages, is not devoid of flaws.
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RainbowlitDelight
Mon Dec 23 2024
Similarly, network issues can also lead to delays in transaction processing or even result in processing errors. These technical hitches can be frustrating for users who rely on EFT for seamless financial transactions.
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