Vijay V Vijayakumar
Implementations Server Side Security Transmission Security Client Side Security ATM’s
High Availability (24*7) Fast Efficient Effective
Document repository for storage of scanned documents. Unlimited number of account holders Straight-through processing of SWIFT Messages On-Line Banking Integrate with third party debit and credit card provider Transaction status notification to client and merchant
Account summary, transfer & transaction history. Credit Card account summary & transaction history. Loan account summary & transaction history Real time access to accounts, profiles and preferences. Send statements online in a secure messaging environment. Stop payment, checks re-order & other account management tasks. Automate debits & transfers. Customer initiated account applications. Credit Card applications. Loan & mortgage applications.
User Authentication Most basic Inadequate in current scenario Threats like Phishing, Session Hijacking Firewalls Prevent attacks from Internet or External Systems Doesn’t prevent from Insider attacks Encryption All data stored in the server should be encrypted e.g. Triple DES Hardware Security The actual hardware of the server should be protected against breaches
Secure ◦ s are generally sent/received in Plain-Text Secure HTTP ◦ All communication between Server and Client should be encrypted Secure Electronic Transaction Secure message transfer during Electronic transactions
Uses TCP port 443 Additional security layer between HTTP and TCP Provides authentication and encryption Avoid eavesdropping and man-in-the-middle attacks Only as secure as the Browser, Web Server and its security
Administrator must create a public key certificate for the web-server Certificates signed by Certificate Authority When browsers access web server they check it using the signing certificate provided by the CA Only then is a connection established
Asymmetric Cryptography ◦ Message signed using private key of sender and receiver decrypts using his public key ◦ Users public key is tied to the user by a digital identity certificate issued by a certificate authority ◦ Provides Authentication and Integrity ◦ Authentication - a valid signature shows that the message was sent by that user ◦ Integrity – checks for modification of message after transmission
Society of World Wide Interbank Telecommunication – includes >200 banks worldwide Objectives: High availability, Secure transmissions for EFT(Electronic Fund Transfers), financial traffic. Standardized message format aimed for wide area networking Proprietary algorithm
Terminals can connect only thro approved SWIFT mechanisms to the regional Processing Centers. Secure sequencing procedures, transaction audit trails and delivery acknowledgements SWIFT II- modular approach to handle more traffic and optimize resources
Need to develop shared networks with other banks, in the same country, to enable fast money transfers in the local currency. US banks are supported by the CHIPS, BANKWIRE, and FEDWIRE networks
Anti-Virus Anti-Spyware Anti-Malware Personal Firewalls Latest Security Patches
Data stored is encrypted using Triple DES Message Authentication Code (MAC) is used to used to prevent tampering of messages. Vulnerable to Social-Engineering Attacks
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Questions?