Prevention, Detection, and Recovery of CSRF Attack in Online Banking System

Online banking system has created an enormous impact on IT, Individuals, and networking worlds. Online banking systems and its exclusive architecture have numerous features and advantages over traditional banking system. However, these new uniqueness create new vulnerabilities and attacks on an online banking system. Cross-site scripting request forgery or XSS attack is among the top vulnerabilities, according to recent studies. This exposure occurs, when a user uses the input from an online banking application without properly looking into them which allows an attacker to execute malicious scripts into the application. Current approaches use to mitigate this problem, especially on effective detection of XSS vulnerabilities in the application or prevention of real-time XSS attacks. To address this problem, the survey of different vulnerability attacks on online banking system performed and also presents a concept for the prevention, detection, removal and recovery of XSS vulnerabilities to secure the banking application.

Analysis of Data Validation Techniques for Online Banking Services

The insufficient preparation for the information and communication technologies revolution led to few offering online transaction platforms, information security features, and credit facilities. One of the security concerns is a lack of data validation. Data that is not validated or not properly validated is the main issue for serious security vulnerabilities affecting online banking applications. In this chapter, the influences of security issues on world banks will be discussed. A number of data validation methods will be also reviewed to date to provide a systematic summary to banking environment. Based on the advantages and disadvantages of each method, the IT developer will decide which is best suited to develop the systematic online banking application. From this analysis, a global view of the current and future tendencies of data validation will be obtained and therefore provision of possible recommendations for solving the security and privacy issues for the online banking services.

The Influences of Privacy, Security, and Legal Concerns on Online Banking Adoption

Business globalization and the rising new technology enforced traditional banking to head towards online banking services, which facilitates customers to obtain access to their accounts from their business sites and personal computers to online banking services. The objective of this chapter is to construct a framework of adoption of online banking and represent the major influences of privacy, security, and legal concerns on online banking adoption. Furthermore, the chapter reveals the main challenges in the development of online banking system. The adoption of online banking can decrease the operating expenses and offer good and rapid services to their customers. The framework factors have been classified as facilitators and barriers of adoption of online banking. Performance expectancy, effort expectancy and social influence have been classified as facilitators whereas security concerns, privacy concerns and legal concerns have been classified as barriers. The results revealed various significant suggestions for online banking service providers, designers and developers.

Expectation and Perception of Internet Banking Service Quality of Select Indian Private and Public Sector Banks

This research paper mainly deals with expectation and perception of service quality of select Indian Banks i.e. SBI and HDFC on the customer satisfaction. The research survey was based on IS-QUAL dimensions (Ray & Ghosh,2014) a diagnostic model developed in 2014, which measures service quality and internet service quality in terms of customer expectations and perceptions of banking services. This present research tends to evaluate the overall idea of expected and perceived services of the two banks. This study is a cross-sectional survey that employed the use of pre-structured questionnaire to collect primary data from a sample of 120 respondents through personal contact, field survey and email. Collected data have been analyzed through SPSS 21 software by different statistical tools like Reliability test for judgment of internal consistency of collected data and paired t- test.

Internet Banking Usage Level of Bankers

Banks provide service not only through branches in the countries but also offers banking services to customers over the internet. However, customers concern using internet banking because of the various troubles and adversities that may occur on the web and because of their habits. The using of internet banking is still not reached the desired level due to various reasons such as security, troubles on web and habits of customers. In this research, bankers using rate of internet banking and bankers approach on internet banking are determined. According to the survey results in Turkey, almost all of the bankers use internet banking but using of mobile applications does not appear to fully spread. Even though the using of internet banking is very common among the bankers, some of the participants said that they encountered some problems while using internet banking. Solutions of systemic deficiencies, password security problems and other security problems will increase the using of internet banking.

Online Banking and Finance

In recent years, online banking has become an alternative channel for most traditional entities. The increase in the number of users and rapid expansion has resulted in a successful strategy among financial institutions. This chapter discusses the use of technology in the finance industry and the various factors associated with it, as well as introducing the reader to the basic characteristics of online financial services. We review the current literature identifying the relevant research questions for our purpose.

Achieving Security to Overcome Attacks and Vulnerabilities in Mobile Banking Security

Mobile Banking is a means of connectivity between bank and its customers. It would be impractical to expect customers to regularly visit banks or connect to a web site for regular upgrade of their mobile banking application. Mobile Banking is a provision and availability of both banking and financial services with the help of mobile telecommunication devices as an Application. It would be expected that the mobile application itself check the upgrades and updates and download necessary patches. Mobile banking has brought the advantage to have an alternate to debit and credit card usage. Mobile banking has the below three inter-related concepts: Mobile accounting, Mobile brokerage, Mobile financial information services. Mobile banking services are Account information provision, Monetary Transaction, Investment facilitation, Support and Content services. The threats involved in Mobile Banking are categorized as, Threats against end user and end user device, Threats against communication network, Threats against remote banking service. The impact of various threats is discussed below.

Ransomware

Compared to the last five to six years, the massive scale by which innocent users are being subjected to a new age threat in form of digital extortion has never been seen before. With the rise of Internet, use of personal computers and devices has mushroomed to immense scale, with cyber criminals subjecting innocent users to extortion using malware. The primary victim to be hit the most has been online banking, impacting the security and reputation of banking and financial transactions along with social interactions. Online security revolves around three critical aspects – starting with the use of digital data and files, next with the use of computer systems and finally the internet as an unsecure medium. This is where Ransomware has become one of the most malicious form of malware for digital extortion threats to home and corporate user alike.

An Algorithm for Securing Hybrid Cloud Outsourced Data in the Banking Sector

The Cloud has become a significant topic in the banking computing; however, the trend has established a new range of security issues that need to be addressed. In Cloud, the banking data and associated software are not under their control. In addition, with the growing demands for Cloud networks communication, it becomes increasingly important to secure the data flow path. The existing research related to security mechanisms only focuses on securing the flow of information in the communication banking networks. There is a lack of work on improving the performance of networks to meet quality of service (QoS) constrains for various services. The security mechanisms work by encryption and decryption of the information, but do not consider the optimised use of the network resources. In this chapter the authors propose a Secure Data Transmission Mechanism (SDTM) with Preemption Algorithm that combines between security and quality of service for the banking sector. Their developed SDTM enhanced with Malicious Packets Detection System (MPDS) which is a set of technologies and solutions.

Emerging Challenges, Security Issues, and Technologies in Online Banking Systems

Online banking security is a critical issue over request-response model. But the traditional protection mechanisms are not sufficient to secure the online banking systems that hold information about clients, and banks. The infrastructure of networks, routers, domain name servers, and switches that glue these online banking systems together could be fail, and as a result, online banking systems will no longer be able to communicate accurately or reliably. A number of critical questions arise, such as what exactly the infrastructure is, what threats it must be secured against, and how protection can be provided on a cost-effective basis. But underlying all these questions is how to define secure online banking systems. In this chapter, emerging challenges, security issues and technologies in Online Banking Systems will be analyzed and discussed systematically.