Online Security Banking

In: Computers and Technology

Submitted By slashdomba
Words 478
Pages 2
One of the most important customer concerns about online banking is security. Since 2006 to date, advanced internet technologies have been designed to protect your account information throughout the entire online banking process, from your computer through the bank's own systems and back again. Although absolute confidentiality of data transmitted over the public internet is not guaranteed, the strongest available industry-standard SSL protocols are used to encrypt all data transmissions between your computer and data center. Messages are not decrypted until they are inside the bank’s firewall. At that point, they are subject to additional internal security procedures common to ATM and telephone banking services.

With reference from the case study, we realized that some Norweigian banks used customer’s SSN and pins as a form of authentication which was proven to be weak and vulnerable to attacks. Since 2006 till now banks all over the world have improved upon their authentication methods and tighten security issues involving online banking security. To be able to access most links, you will need Internet access and an Internet browser that supports Secure Sockets Layer with 128-bit encryption and a computer with at least a 133mHz processor and a 28.8 modem or a high speed connection.

Today, online offerings are more robust, giving consumers a wider range of choices. But safety of both their personal data and their deposits remains a major concern of many.

[pic] The diagram above depicts the security processes involved in online banking security.

Many banks and credit unions allow you to set up email alerts that give you notice when certain account activity occurs. There are a variety of alerts, and different institutions will offer different ones. To avoid the security risk of…...

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