Internet banking security enhancement using naïve bayes algorithm

Abstract

This paper explains the detail implementation of online banking or e banking authentication system. Security is a very important issue for online banking application which are being implemented by various online platform that are making the world getting closer. When implementing online e banking system, secure money transfer is very important which can be achieved by using database encryption and time based OTP. Techniques for secure storage of sensitive data are also used to prevent any intrusion. To reduce threat of phishing and to confirm user identity and location which would be known by coordinates generated by user’s mobile device can be used as a method to prevent the weakness of traditional password based system can be improved by one time password which is sent if there is a major deviation in the behavior of the user. Challenge-based like asking less personal questions and time-based OTPs which is generated on mobile provide strong security because their period of validity is controlled directly by the bank and does not depend upon user’s behavior. It is advised that the banks should not allow the OTP time window to exceed 5 minutes for a OTP. Based on the trust factor, the purpose of this paper is to examine the role of trustworthiness and trust in users’ intentions on a transaction to be made and discontinuing the anomalous users from completing the transaction.