Considerations Regarding the Security and Protection of E-Banking Services Consumers’ Interests

A significant number of breaches in the security of electronic banking (e-Banking) system is reported each year, drawing attention to the need to protect and inform customers about the risk of exposure to malicious actions initiated by cyber-criminals. Financial institutions and consumers recognize the fact that attacks and financial frauds are becoming more complex and are perpetrated by a different class of criminal. This class is increasingly sophisticated and uses technology as part of their strategy. Furthermore, the specialists forecast that the current global recession is likely to increase the frequency of internal fraud and security breaches. The present research tries: (1) to analyze the potential dangers threatening the security of e- Banking services through a comprehensive investigation of the relevant literature; (2) to identify the tools and methods that can ensure the consumers’ protection in E-Banking, (3) to present the results of a pilot study regarding the Romanian consumer perception on the protection and security related to E-Banking servicesE-Banking services, security, consumer protection, cyber-attack

The Impact Of Technology Trust On The Acceptance Of Mobile Banking Technology Within Nigeria

With advancement in the use of information technology seen as a key factor in economic development, developed countries are increasingly reviewing traditional systems, in various sectors such as education, health, transport and finance, and identifying how they may be improved or replaced with automated systems. In this study, the authors examine the role of technology trust in the acceptance of mobile banking in Nigeria as the country attempts to transition into a cashless economy. For Nigeria, like many other countries, its economic growth is linked, at least in part, to its improvement in information technology infrastructure, as well as establishing secure, convenient and reliable payments systems. Utilising the Technology Acceptance Model, this study investigates causal relationships between technology trust and other factors influencing user’s intention to adopt technology; focusing on the impact of seven factors contributing to technology trust. Data from 1725 respondents was analysed using confirmatory factor analysis and the results showed that confidentiality, integrity, authentication, access control, best business practices and non-repudiation significantly influenced technology trust. Technology trust showed a direct significant influence on perceived ease of use and usefulness, a direct influence on intention to use as well as an indirect influence on intention to use through its impact on perceived usefulness and perceived ease of use. Furthermore, perceived ease of use and perceived usefulness showed significant influence on consumer’s intention to adopt the technology. With mobile banking being a key driver of Nigeria’s cashless economy goals, this study provides quantitative knowledge regarding technology trust and adoption behaviour in Nigeria as well as significant insight on areas where policy makers and mobile banking vendors can focus strategies engineered to improve trust in mobile banking and increase user adoption of their technology

Conceivable security risks and authentication techniques for smart devices

With the rapidly escalating use of smart devices and fraudulent transaction of users’ data from their devices, efficient and reliable techniques for authentication of the smart devices have become an obligatory issue. This paper reviews the security risks for mobile devices and studies several authentication techniques available for smart devices. The results from field studies enable a comparative evaluation of user-preferred authentication mechanisms and their opinions about reliability, biometric authentication and visual authentication techniques

S-Mbank: Secure Mobile Banking Authentication Scheme Using Signcryption, Pair Based Text Authentication, and Contactless Smartcard

Nowadays, mobile banking becomes a popular tool which consumers can conduct financial transactions such as shopping, monitoring accounts balance, transferring funds and other payments. Consumers dependency on mobile needs, make people take a little bit more interest in mobile banking. The use of the one-time password which is sent to the user mobile phone by short message service (SMS) is a vulnerability which we want to solve with proposing a new scheme called S-Mbank. We replace the authentication using the one-time password with the contactless smart card to prevent attackers to use the unencrypted message which is sent to the user's mobile phone. Moreover, it deals vulnerability of spoofer to send an SMS pretending as a bank's server. The contactless smart card is proposed because of its flexibility and security which easier to bring in our wallet than the common passcode generators. The replacement of SMS-based authentication with contactless smart card removes the vulnerability of unauthorized users to act as a legitimate user to exploit the mobile banking user's account. Besides that, we use public-private key pair and PIN to provide two factors authentication and mutual authentication. We use signcryption scheme to provide the efficiency of the computation. Pair based text authentication is also proposed for the login process as a solution to shoulder-surfing attack. We use Scyther tool to analyze the security of authentication protocol in S-Mbank scheme. From the proposed scheme, we are able to provide more security protection for mobile banking service.Comment: 6 page

A Comparative Usability Study of Two-Factor Authentication

Two-factor authentication (2F) aims to enhance resilience of password-based authentication by requiring users to provide an additional authentication factor, e.g., a code generated by a security token. However, it also introduces non-negligible costs for service providers and requires users to carry out additional actions during the authentication process. In this paper, we present an exploratory comparative study of the usability of 2F technologies. First, we conduct a pre-study interview to identify popular technologies as well as contexts and motivations in which they are used. We then present the results of a quantitative study based on a survey completed by 219 Mechanical Turk users, aiming to measure the usability of three popular 2F solutions: codes generated by security tokens, one-time PINs received via email or SMS, and dedicated smartphone apps (e.g., Google Authenticator). We record contexts and motivations, and study their impact on perceived usability. We find that 2F technologies are overall perceived as usable, regardless of motivation and/or context of use. We also present an exploratory factor analysis, highlighting that three metrics -- ease-of-use, required cognitive efforts, and trustworthiness -- are enough to capture key factors affecting 2F usability.Comment: A preliminary version of this paper appears in USEC 201

Cyber Security Awareness Among College Students

This study reports the early results of a study aimed to investigate student awareness and attitudes toward cyber security and the resulting risks in the most advanced technology environment: the Silicon Valley in California, USA. The composition of students in Silicon Valley is very ethnically diverse. The objective was to see how much the students in such a tech-savvy environment are aware of cyber-attacks and how they protect themselves against them. The early statistical analysis suggested that college students, despite their belief that they are observed when using the Internet and that their data is not secure even on university systems, are not very aware of how to protect their data. Also, it appears that educational institutions do not have an active approach to improve awareness among college students to increase their knowledge on these issues and how to protect themselves from potential cyber-attacks, such as identity theft or ransomware