Which of the following is essential for ensuring security in banking transactions?

Implementing strict verification processes is essential for ensuring security in banking transactions because it establishes a system to confirm the identity of customers and the legitimacy of their transactions. This includes practices such as two-factor authentication, biometric checks, or thorough identification procedures. By verifying that the person initiating a transaction is who they claim to be, banks can prevent fraud, identity theft, and unauthorized access to accounts. Strict verification reduces the risk of mistakes or malicious actions that could harm customers or the financial institution. Thus, prioritizing these processes creates a safer banking environment for all parties involved.