An enhanced authentication technique to mitigate the online transaction fraud

Abstract

Online transactions provide benefits to the customer and financial organization in terms of reducing operating cost, time, efforts, papers, and increasing the comfort and ease. Beside these benefits online transaction has a side effect likeforged online transaction. This side effect results in loss of money. This forged online transaction is performed by fraudsters who are well equipped with the dynamic novel idea to steal an amount of money from the customer through online transaction. Although security measures are already implemented this forged online transactions are increasing every year. This is happening due to fraudsters creating novel ideas continuously to perform forged online transaction. Therefore, security measures need improvements continuously on a regular basis. The key aspiration of this paper is to create an improved authentication technique to prevent forged online transaction. This study produces an enhanced authentication using a mobile application to mitigate online transaction fraud.