How does electronic funds work?

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Right now our banking is mostly electronic.

How do banks make sure that an electronic transaction is genuine and not fake?

How do banks defend themselves from hacking?

Is there any peer-verification or redundancy networks that prevents fake transactions and hacking?

How are electronic funds different from cryptos?

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>How do banks make sure that an electronic transaction is genuine and not fake?

Robust regulations, encryption, and such

>How do banks defend themselves from hacking?

Same as everyone else, lots of security

>Is there any peer-verification or redundancy networks that prevents fake transactions and hacking?

Not sure what you’re asking here. This question is just a subset of the above situation.

>How are electronic funds different from cryptos?

Are you talking about cryptocurrency? Well, for one, its real hard currency, so after that, there isn’t a discussion to be have