12. Security Issues in E-Banking: An Exploration (original) (raw)

E-BANKING: CHALLENGES AND ISSUES

E-Banking i.e. electronic banking becomes very popular with the introduction of Information technology. The government of India has enacted the IT Act 2000 with effect from October17, 2000 which provided legal recognition to electronic transaction and other means of E-commerce the Reserve Bank of India is monitoring and reviewing the legal and other requirements of E-Banking on a continuous bases to ensure that E-banking would develop on sound lines and E-Banking related challenges would not pose a threat to financial stability. The present research is descriptive is nature and study the challenges and issues faced by the banking sector in India.

AE Considerations Regarding the Security and Protection of E-Banking Services Consumers ’ Interests Amfiteatru Economic 388 CONSIDERATIONS REGARDING THE SECURITY AND PROTECTION OF E-BANKING SERVICES CONSUMERS ’ INTERESTS

2014

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 Romani...

The Challenges of E-Banking in India

E-Banking remains one of the most successful outcomes of E-Commerce revolution that changed the way the world traded. While it helped the Banks & Businesses grow multifold, it provided customers with lot of convenience and safety. This paper tries to analyze the challenges faced by E-Banking in India and also discusses how they were overcome or being worked upon. It discusses the benefits derived by all the parties concerned like customers, banks, businesses & government. It suggests ways to penetrate the inner lands of India and discusses the advantages to be derived from the same.

Internet Banking System & Security Analysis

International Journal of Engineering and Computer Science, 2017

Internet banking or E-banking has attracted the attention of banks, securities, insurance companies in developing nations since the late 1990s and the rapid and significant growth in electronic sectors and commerce it's obvious that electronic (online internet) banking and payments are likely to advance or rapidly increased. Introduction:-Major Challenges For E-Banking In India:-E-Banking in India is its emerging state of development. Most of them are basic services only the deregulation of e-banking industry coupled with the emergence of new banking technology is enabling new competitors to enter the financial services to enter the financial services markets quickly and efficiently. However, it needs to be recognised that perception norms and an improvement in the functioning of services.

Internet Banking System & Security Analysis

International Journal Of Engineering And Computer Science, 2017

Internet banking or E-banking has attracted the attention of banks, securities, insurance companies in developing nations since the late 1990s and the rapid and significant growth in electronic sectors and commerce it's obvious that electronic (online internet) banking and payments are likely to advance or rapidly increased. Introduction:-Major Challenges For E-Banking In India:-E-Banking in India is its emerging state of development. Most of them are basic services only the deregulation of e-banking industry coupled with the emergence of new banking technology is enabling new competitors to enter the financial services to enter the financial services markets quickly and efficiently. However, it needs to be recognised that perception norms and an improvement in the functioning of services.

E-Banking:Advantages, Challenges and Opportunities in the Indian Context

2017

There has been an extensive expansion of the Indian financial system, out of which the banking sector is considered as the most significant component. Banks are the lifeline of any economy and are indispensable in a modern society. Today banks have expanded their purview of activities and are getting into new range of products and services like e-banking services, investment banking, mutual funds, general insurance, credit cards, demat services and so on. Due to liberalization, the financial system has a greater role to play than in the past and thus one cannot afford to ignore the importance of existence of a strong Indian banking sector. Increasing levels of competition and information age environment have exposed banks to a variety of challenges like technology, customer service, Basel III norms, new accounting standards, transparency, disclosure and corporate governance. The present study is an attempt to study the status of e-banking in India, growth in e-banking transactions, ...

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

2010

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 Romani...

Innovation in Indian Banking: Extent of Precautions Taken By the Customers While E-Banking

Financial liberalization and technology revolution have allowed the developments of new and more efficient delivery and processing channels as well as more innovative products and services in banking industry. Banking institutions are facing competition not only from each other but also from non-bank financial intermediaries as well as from alternative sources of financing. As financial institutions increasingly offer online banking services to their customers, they must face issues of consumer confidence in the Internet. Consumers are concerned about identity theft and wonder if the Internet is safe for online banking. The answer is yes-if financial institutions, in cooperation with their customers, make it safe. Therefore, building the best controls to prevent fraud and protect customers is of critical importance. This paper investigates the extent of safety measures followed by customers while e-banking, analyses the awareness of the customers regarding the various online banking scams and suggests safety measures to be followed while e-banking. Primary data was collected from 118 respondents through a structured questionnaire. Secondary data was used to know about the various electronic e-banking products and services and various online scams. The findings are of great help to bankers to enable them to frame proper guidelines for their customers who use e-banking facility. It helps e-banking customers to bank safely using the safety measures.

E-Banking: An Innovative Model of Information Technology in Indian Banking Sector

isara solutions, 2017

This research paper highlights the role of Information technology in Indian banking sector and will trigger some of the important research questions. Not so long ago accessing our own money was about setting aside a couple of hours, getting to the bank before closing time, standing in one queue to get a token and then in another to collect the cash. These things were of those days, when the banking sector primarily consisted of traditional systems. Now, the nature of banking has changed beyond recognition with ATM cards, simple banking transactions like withdrawing and depositing money are easier than ever before.