The following Online Banking Management System .Net Final Year Project discussion briefs possible risks in the Online Banking Management System process at each step. The different attacks mentioned here will be explained further in the following chapters.
However, the rise in popularity of online banking has not only attracted the consumers but also the fraudsters. Online Banking Management System fraud is usually possible when a criminal gains personal information of users by tricking them to enter their details in a website or an e-mail [BBC, 2010]. Fraudulent bank activity in online banking increased significantly every year while being reduced in case of credit/debit cards.
According to UK Cards Association, card fraud has totaled £440m in 2009 which is 28% less compared to the previous year[Bbc, 2010] .At the same time the number of “phishing” attacks rose by 16%. The fall in card fraud in UK is mainly with the introduction of “Chip and Pin” technology [Frowen, 2010]. This indicates, in the same way some new security measures must be introduced in online banking to prevent fraudulent activity. (from interim)
The losses incurred due to fraud in Online Banking Management System is alarming and the introduction of new security measures is required to prevent this. The fraudsters use different ways to attack the user’s pc, systems, networks, servers, websites to obtain the required data for fraudulent activities. The different attacks and threats possible on the e- banking are explained thoroughly in the next chapters.
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