Online Banking Security Magdalena Padyasek
Why Security? Computer-based businesses Advances in technology Internet crimes September 11 th attacks Cyber-terrorism Internet banking
Internet Banking Paper-free transactions Account balances, transfers, bill payment, statements Fast and convenient
One-way Security Secure Socket Layer (SSL) Safeguarding Online Purchases Feel secure Encrypts data between the client and the server by making a direct connection Client sends an encrypted key to the server Server decrypts and returns to the client
SSL lock Click the icon, or double-click (varies by browser), and examine the security information displayed about the web site.
Two-Way Security Public Key Infrastructure (PKI) Insures privacy for both online company and online bank customer Enables users to securely exchange data and money through public network
Public Key Infrastructure Encrypts and decrypts Tamper detection Authentification Nonrepudation
Online banking Digital signatures – ensures identity Firewall – shield between the internal systems and the Internet Virtual Private Network – allows authorized outside users to access company data
News… Microsoft file 117 phishing lawsuits Anti-Phishing Act of 2005
Conclusion Security precautions Understand security risk Internet crimes are growing at an alarming rate “Consumers actually need to be responsible…they won’t leave their doors open when they leave the house.” - Lydia Parnes (director of the FTC’s Bureau of Consumer Protection)
Works Cited security-faq.html news