Study of Online Banking Security Mechanism in India: Take ICICI Bank as an Example
Journal Title: IOSR Journals (IOSR Journal of Computer Engineering) - Year 2013, Vol 13, Issue 1
Abstract
Internet banking has gained wide acceptance internationally and seems to be fast catching up in India with more and more banks entering the fray. online banking is defined as the use of Internet as a remote delivery channel of banking system services via the World Wide Web. This system enable customers to access their accounts and general information of bank products and services anywhere anytime i.e the model of banking has transformed from brick and mortar to all pervading through ‘Anywhere and Anytime Banking’ through PC or other intelligent device using web browser software, such as Netscape Navigator or Microsoft internet Explorer or Firefox. But Online banking continues to present challenges to financial security and personal privacy. Billions of financial data transactions occur online every day and bank cyber crimes take place every day when bank information is compromised by skilled criminal hackers by manipulating a financial institution’s online information system.This causes huge financial loses to the banks and customers.So one of the major concerns of people with respect to internet banking is the safety related to data of bank account, transactional information and also the access path of their accounts.The paper starts from the security problems Internet banking are facing,tries to explain suitable set of controls which consists of policies procedures, organisational structures, hardware and software functions organisation has to establish , tries to explore various of Technology and Security Standards the RBI is recommending to banks for safe internet banking and analyses the current representative of the online banking security controls and measures with the case of ICICI Bank of INDIA
Authors and Affiliations
Rajpreet Kaur Jassal
Keywords
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