Skip to content

CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Kaveri Securities in GIFT IFSC uses an AI chatbot to answer client queries. A client complains that the bot shared another client's account details. Which compliance concern is most directly raised?

The main concern is a data privacy and confidentiality breach. The chatbot exposed one client's account information to another, showing weak access controls in the AI tool. Firms using AI must safeguard client data. Capital adequacy, listing delays and stamp duty have no connection to the facts.

  1. AData privacy and confidentiality breachCorrect
  2. BInsufficient share capital
  3. CDelay in listing of securities
  4. DNon-payment of stamp duty

Explanation

Disclosing one client's account details to another is a failure of data protection and confidentiality controls, which firms deploying AI tools must manage. The other options are unrelated to the facts.

Did you get it right without looking?

One question tells you little. A timed set on Overview of FinTech and Service Providers in IFSC shows your real accuracy, how long you take and where you lose marks.

Practise Overview of FinTech and Service Providers in IFSCFree diagnostic mock

More Overview of FinTech and Service Providers in IFSC questions