Page 22 - FIGI Digital Financial Services Consumer Competency Framework

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2�2 Carry out DFS transactions securely
To safely make e-payments and use digital financial services.
Knowledge Area CA2.2-K1 Know that digital channels allow access to bank accounts and payment ser-
vices anytime, anyplace, including in the absence of internet connection.
CA2.2-K2 Know how to make a financial transaction using the mobile phone in a
secure manner.
CA2.2-K3 Know the security risks of using DFS.
CA2.2-K4 Know the security features of and threats of both feature phones and
smartphones.
CA2.2-K5 Know how to use a digital wallet for financial transactions.
CA2.2-K6 Know the benefits of multi factor authentication in DFS and why it is more
secure.
CA2.2-K7 Know what security software should be installed on the mobile device to
secure DFS payments where smartphones are being used.
CA.2.2-K8 Know what are the common digital financial services, their risks and the
benefits.
CA.2.2-K9 Know what features a crowdfunding platform provides and how to use it
[For gender sensitivity: Include information about crowdfunding platforms for women
and women entrepreneurs and their services].
CA2.2–K10 Know what a strong password is.
CA2.2–K11 Know the ability to preschedule/automate financial payments, benefits and
risks in doing so.
CA2.2-K12 Differentiate between a legitimate DFS application and a fake application.
Skills Area CA2.2-S1 Use multi factor authentication and biometrics to effect DFS transactions
safely.
CA2.2-S2 Be able to recognise social engineering attacks which seek to obtain user
login credentials and personal information.
CA2.2-S3 Be able to recognise fraudulent messages related to DFS and phishing
attacks, including messages requiring clicking on suspicious links .
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CA2.2-S4 Be able to recognise that the payment is secure .
CA2.2-S5 Be able to challenge a payment and obtain reimbursement or compensa-
tion in the event of fraud.
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CA 2.2-S6 Be able to use an array of DFS and know the benefits thereof . [For gen-
der sensitivity: Include also information about how to use digital financial service
platforms for managing savings and control of money to run their households and
business].
CA2.2–S7 Be able to change login credentials if a security breach/compromise is sus-
pected.
Proactive steps CA2.2-P1 Minimize risks related to the use of DFS, including financial risks.
CA2.2-P2 Use multifactor authentication if available.
CA2.2-P3 Read about the types of security measures used in DFS for consumers to
protect their mobile devices and ensure integrity of the financial services transactions.
CA2.2–P4 Read about the rights and responsibilities of both the DFS provider and
consumer in the DFS regulations.
CA2.2–P5 Abort transactions in case of suspicion and utilise the appropriate griev-
ance redress and recourse mechanism.

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