Online Banking Security
Magdalena Padyasek
Why Security?
 Computer-based
businesses
 Advances in technology
 Internet crimes
 September 11th attacks
 Cyber-terrorism
 Internet banking
Internet Banking

Paper-free transactions
 Account balances, transfers, bill payment,
statements
 Fast and convenient
One-way Security
 Secure
Socket Layer (SSL)
 Safeguarding Online Purchases
 Feel secure
 Encrypts data between the client and the
server by making a direct connection
 Client sends an encrypted key to the
server
 Server decrypts and returns to the client
SSL lock

Click the icon, or double-click (varies by
browser), and examine the security information
displayed about the web site.
Two-Way Security

Public Key
Infrastructure (PKI)
 Insures privacy for
both online company
and online bank
customer
 Enables users to
securely exchange
data and money
through public
network
Public Key Infrastructure
 Encrypts
and decrypts
 Tamper detection
 Authentification
 Nonrepudation
Online banking
signatures – ensures identity
 Firewall – shield between the internal
systems and the Internet
 Virtual Private Network – allows
authorized outside users to access
company data
 Digital
News…

Microsoft file 117
phishing lawsuits
 Anti-Phishing Act of
2005
Conclusion
 Security
precautions
 Understand security risk
 Internet crimes are growing at an alarming
rate
“Consumers actually need to be
responsible…they won’t leave their doors
open when they leave the house.”
- Lydia Parnes (director of the FTC’s
Bureau of Consumer Protection)
Works Cited
 http://info.ssl.com/ssl_kb/article.aspx?id=1
0068
 http://www.w3.org/Security/Faq/wwwsecurity-faq.html
 http://www.bankrate.com/brm/news
 http://www.thestandard.com/internet news