ATM Shield: Analysis of Multitier Security Issues of ATM in the Context of Bangladesh

Over the last decade, consumers have been largely dependent on and trust the Automatic Teller Machine (ATM) to conveniently meet their banking needs. However, despite the numerous advantages of ATM system, ATM fraud has recently become more widespread. In this paper, we provide an overview of the possible fraudulent activities that may be perpetrated against ATMs and investigates recommended approaches to prevent these types of frauds. In particular, we develop a prototype model for the utilization of three tier security equipped ATM to provide security solutions against must of the well-known breaches. In this research article, the tools and techniques of ATM fraud are contemplated. A secure three layer electronic transaction mechanism of ATM is developed to prevent ATM frauds. In this three layer authentication systems the users can improve ATM security against frauds and crimes

Investment and Usage of New Technologies: Evidence from a Shared ATM Network

When new technologies become available, it is not only essential that firms have the correct investment incentives, but often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network. Be- cause all banks coordinate their ATM investment decisions, there is no strategic but only a pure cost-saving incentive to invest. At the same time, because retail fees for cash withdrawals are regulated to zero at both branches and ATMs, consumers may not have the proper incentives to substitute their transactions from branches to the available ATMs. We develop an empirical model of coordinated investment and cash withdrawal demand, where banks choose the number of ATMs and consumers decide whether to withdraw cash at ATMs or branches. We find that banks substantially underinvested in the shared ATM network and thus provided too little geographic coverage. This contrasts with earlier findings of strategic overinvestment in networks with partial incompatibility. Furthermore, we find that consumer usage of the avail- able ATM network is too low because of the zero retail fees for cash withdrawals at branches. A direct promotion of investment (through subsidies or other means) can improve welfare, but the introduction of retail fees on cash withdrawals at branches would be more e¤ective, even if this does not encourage investment per se.

Automated Teller Machine Ethernet Traffic Identification to Target Forensics Detection of IP Packets

Over the last few decades, consumers have become accustom to the convenience of Automatic Teller Machines (ATMs) to transfer funds between accounts, provide account balance information and to withdraw cash from savings, checking, and other account types. Along with the convenience and ease of locating an ATM through mobile bank apps, there has been a significant increase in ATM fraud across the globe. Consumer confidence in the ATM, bank and credit card issuer is greatly impacted by the perceived level of security in ATM transactions and the technology behind them. Confronting the risk associated with ATM fraud and limiting its impact is an important issue that face financial institutions as the sophistication of fraud techniques have advanced. Largely the process behind the verification of these transactions has moved from Plain Old Telephone System (POTS) to Ethernet connections to the processors, banks and card issuers. The attack surface has grown, both in size and complexity. These security risks should be prompting the industry to research all attack surfaces, and this research looks specifically the Ethernet packets that make up these types of transactions. In this research, I investigate the packet structure and predictability within ATM Ethernet traffic. Even with the proliferation of retail ATMs in the most common of retail spaces, this attack vector has received little attention

Investment and usage of new technologies: evidence form a shared ATM network

When new technologies become available, it is not only essential that .rms have the correct investment incentives, but often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network. Because all banks coordinate their ATM investment decisions, there is no strategic but only a pure cost-saving incentive to invest. At the same time, because retail fees for cash withdrawals are regulated to zero at both branches and ATMs, consumers may not have the proper incentives to substitute their transactions from branches to the available ATMs. We develop an empirical model of coordinated investment and cash withdrawal demand, where banks choose the number of ATMs and consumers decide whether to withdraw cash at ATMs or branches. We .nd that banks substantially underinvested in the shared ATM network and thus provided too little geographic coverage. This contrasts with earlier .ndings of strategic overinvestment in networks with partial incompatibility. Furthermore, we .nd that consumer usage of the available ATM network is too low because of the zero retail fees for cash withdrawals at branches. A direct promotion of investment (through subsidies or other means) can improve welfare, but the introduction of retail fees on cash withdrawals at branches would be more e¤ective, even if this does not encourage investment per se.new technology, ATM network

Effects of Theory of Execution on the Implementation of Automated Teller Machines Projects in Tanzania: A case of Stanbic Bank; Dar es salaam

The study examined the effects of theory of execution on the implementation of automated teller machines (ATMs) project at Stanbic bank; Dar es Salaam. Cross-sectional research strategy was employed with questionnaire and interview guide used to solicit information. A sample size of 40 respondents was utilized. Quantitative data were edited, coded and analysed descriptively thorough the application of Statistical Package for Social Sciences where frequencies and percentages were obtained. Qualitative data were analysed through content analysis. The findings showed that the theory of execution focused on decision and communicating assignment that enabled Stanbic bank focus on personnel in executing the implementation of ATM project from the fact that there have been efforts to enhance the existence of reliable communication infrastructure when customers utilize ATMs something that attracted more customers. Moreover, the impact of strategy execution in implementing ATMs project at Stanbic bank contributed in managing security of ATMs resulting into developing alternative ATMs use with appropriate measures taken against ATMs fraud challenges. However, the operations done in executing the implementation of ATMs project at Stanbic bank; resulted into management of cash for use, influenced the reliability of ATM to deliver quality services, impacted on ATMs service monitoring to improve the availability of ATMs network as well as increasing the speed of service provision. It is concluded that all these influenced satisfaction of banks’ customers using ATMs that replaced human deployment something that reduced cost and increased profit and customer’s satisfaction. Keywords: Theory of Execution, Automated Teller Machine, Project, Implementatio

Transferring cash benefits through the banking sector in Colombia

This paper reviews the experience in transacting payments through the commercial banking system, to beneficiaries in Colombia's"Familias en Accion"program. The story told will be useful to those trying to solve the operational problem of moving cash, cost-effectively to large numbers of beneficiaries in social assistance, or similar programs. It shows the options considered, their advantages, disadvantages, and costs. Though some of the details may be specific to the country, and program, the approach to the analysis is broadly applicable.Banks&Banking Reform,Municipal Financial Management,Financial Intermediation,Financial Crisis Management&Restructuring,Health Monitoring&Evaluation

ATM Frauds -Preventive Measures and Cost Benefit

It is well-known that criminals have manyways of illegally accessing ATM machines to access theaccount of legitimate users. In this paper, we brieflyprovide an overview of the possible fraudulent activitiesthat may be perpetrated against ATMs and justify whythe use of biometric should be considered as preventivemeasure. A prototype of biometric ATM was designedand questionnaires were distributed to users for theiropinion. Finally, the paper concludes by giving a simplerisk and cost benefit analysis for the proposed design

Discriminatory fees, coordination and investment in shared ATM networks

This paper empirically examines the effects of discriminatory fees on ATM investment and welfare, and considers the role of coordination in ATM investment between banks. Our main findings are that foreign fees tend to reduce ATM availability and (consumer) welfare, whereas surcharges positively affect ATM availability and the different welfare components when the consumers' price elasticity is not too large. Second, an organization of the ATM market that contains some degree of coordination between the banks may be desirable from a welfare perspective. Finally, ATM availability is always higher when a social planner decides on discriminatory fees and ATM investment to maximize total welfare. This implies that there is underinvestment in ATMs, even in the presence of discriminatory feesinvestment, coordination, ATMs, network industries, empirical entry models, spatial discrete choice demand models