What is security in Internet banking?

While individual banks approach security in different ways, there are several measures every online bank should take to provide a safe banking experience. These include: Anti-virus and anti-malware protection. These programs help detect and prevent viruses and malicious software.

What are the main security issues relating to online banking?

There are four main types of attacks that are prevalent when you use online banking services.

• Phishing. Having an online banking account, you might fall victim to phishing.
• Identity Theft.
• Keylogging.
• Pharming.

What major security are provided by bank for e banking?

E-Banking platforms offer several methods to ensure a high level of security: (a) identification and authentication, (b) encryption, and (3) firewalls mechanism.

How can I improve online banking security?

Here are five steps to take to protect your accounts so you can bank securely online.

1. Ask for two-factor authentication.
2. Skip public Wi-Fi.
3. Set up reminders to change your password.
4. Be wary of “official-looking” notices.
5. Ask your bank how it’s keeping your records secure.

How is intrusion detection system used in banking?

Thus, Intrusion Detection System (IDS) is introduced into internet banking security system for safety on online transaction processing [2][6]. Basically, IDS is used to review, analyze and record report of the system and network activities.

What is security and privacy of electronic banking?

This paper will first discuss the drivers of e-banking; secondly, it will talk about the concerns about e-banking from various perspectives. Thirdly, the security and privacy issues will also be discussed, and fourthly the attacks of e-banking with their solutions are discussed.

What are the challenges of the electronic banking system?

The e-banking system addresses several emerging trends: customer’s demand for anytime, anywhere service, product time-to-market imperatives and increasingly complex back-office integration challenges. The challenges that oppose electronic banking are concerns of security and privacy of information.

Are there any security issues with mobile banking?

Mobile banking based on WAP (Wireless Application Protocol) and SMS (Short Message Service) is popular [5]. Through SMS the customers can know the details about their account balance. However, there still many security problems when making transaction through SMS.