ExpertACCA · Question 49 · Business functions, regulation and technology
SECTION B - SCENARIO 3 (Syllabus C)
'LedgerLogix' is a decentralized finance (DeFi) exchange.
Task 1: They use a distributed, immutable ledger to record all trades.
Task 2: Hackers flood their servers with fake traffic, taking the exchange offline.
Task 3: An auditor traces a specific trade from the user's wallet through the exchange to verify its existence.
Task 4: The exchange requires all users to submit government ID before trading to prevent illicit funds from entering the system.
Which of the following correctly identifies the concepts in Tasks 1 to 4?
SECTION B - SCENARIO 3 (Syllabus C)
'LedgerLogix' is a decentralized finance (DeFi) exchange.
Task 1: They use a distributed, immutable ledger to record all trades.
Task 2: Hackers flood their servers with fake traffic, taking the exchange offline.
Task 3: An auditor traces a specific trade from the user's wallet through the exchange to verify its existence.
Task 4: The exchange requires all users to submit government ID before trading to prevent illicit funds from entering the system.
Which of the following correctly identifies the concepts in Tasks 1 to 4?
Answer options:
1: Cloud Computing, 2: Ransomware, 3: Compliance testing, 4: Data Protection Act
1: Blockchain, 2: DDoS attack, 3: Substantive testing / Audit trail, 4: Anti-Money Laundering (AML) KYC control
1: Big Data, 2: Phishing, 3: Substantive testing, 4: Segregation of duties
1: Blockchain, 2: DDoS attack, 3: Compliance testing, 4: Anti-Money Laundering (AML) KYC control
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