Security Issues on Online Transaction of Digital Banking
Keywords:
Digital Banking, Hacking, Rootkits, Phishing, encryption, OTP, QR codeAbstract
Digital banking system has a broad range of benefits that add value to customer’s fulfillment in term of superior service quality, and at the same time it enables banks to add a competitive benefit over other financial competitors. Presently, Digital banking customers only require a smart gadget with access to the Internet to use digital banking services. Customers can access their digital banking accounts from anywhere in the world. However, more attention towards digital banking security is required and needed against fake behavior because the lack of control over security policies makes digital banking still untrusted for many customers till now. This paper presents challenges and security issues related to digital banking. Various types of cyber attacks, fraud strategies, and prevention methods used by digital banks, are also presented in this paper. This research work studies security and safety issues of online banking.
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