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E-banking - History, growth, security and hacking

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  1. 1. Σ
  2. 2. TOPICS : @ Σ BANKING – An Introduction @ Σ BANKING – History @ Σ BANKING –SYSTEM @ Σ BANKING – Merits @ Σ BANKING – Demerits @ PHISHING & PHISHING Techniques @ Measures to avoid Σ BANKING Fraud @ Points To Remember
  3. 3. @ An Increasing trend. @ An Increase in frauds being done via e-banking. @ Enables faster transaction of “MONEY.” @ Unawareness of banking among people.
  4. 4. @ E-banking is a facility provided by banks. @ It enables user to access his account and carry out all banking transactions at any place & time. E-banking- An Overview @ It has reduced manual Hard work. @ The concept of e-banking has become a revolution in the field of banking and finance.
  5. 5. @ The concept of E-banking has been developed in parallel lines with world wide web. History Of -banking : @ The process of banking data base and the programmers working on them came up with the idea of E-banking. @ Emergence of the concept of E-shopping and use of credit cards boomed the development of E-banking.
  6. 6. @ The first internet banking service in U.K was launched by Nottingham Building Society in 1983. @ This system was derived from a system known as Prestel, that is deployed by the Postal service department in U.K. History Of -banking : @ The first online banking service was successfully introduced by Stanford Federal Credit Union in 1994 in U.S.A . @ Now, the online banking services are getting more & more established due to the well developed systems.
  7. 7. @ Cash management @ Wire transfers @ Bill presentment and payment @ Balance inquiries @ E-banking provides beneficial banking services to corporate and individual clients, by using their computers, laptop, internet etc they could access it regardless of time and location. Operations in E-banking system includes : Internet Banking System : @ Funds transfers @ Downloading transaction information @ Loan applications @ Investment activity
  8. 8. USER SESSIONS : It shows the date and time when the user accessed the pages of internet banking system.
  9. 9. @ User is able to transfer amounts from an A/C to another. TRANSFERS : @ He has to specify the debit and the credit A/C, the amount, the currency, and the effective date of the transfer.
  10. 10. Using this page, the user can transfer amounts from a selected debit A/C to many Credit A/C’s. Using this page , the user can transfer a amounts from a selected credit A/C to many Debit A/C’s. In this page, the user enters the amount to be paid to each A/C. ONE TO MANY TRANSFER MANY TO ONE TRANSFER PAYROLL TRANSFERS :
  12. 12. @ No more standing in queues. -Banking Merits : @ Opening of Bank A/C’s is quite simple & easy and so is closing of it. @ E-banking helps the user to access information regarding his A/C and transactions.
  13. 13. @ Fund transfers, both national and international have become faster and convenient. -Banking Merits : @ Activities such as stock trading, exchanging bonds and other investments with the help of E banking have become quite productive.
  14. 14. -Banking Demerits : @ Security of the user’s bank A/C is at stake. @ E-banking cannot be easily understood by a common man especially of a country like India. @ The user can become a victim of computer hacking.
  15. 15. PHISHING : What is phishing ? @ Phishing is the use of e-mails to attract the user onto a fake bank website to steal all the personal information of the user. The user will open the fake email A request for information from your bank through a link Click on the link and will be logged on to a fake bank website. The user will end up giving all kinds of valuable information. @ Phishing process
  16. 16. PHISHING TECHNIQUES,HISTORY & SOME FACTS : @ Phishing techniques were discovered in 1987 but were first recorded in the year 1996. @ The term phishing was derived from the term fishing. @ It is an another form of internet scam @ It is an criminally fraudulent process. @ Usual ways of practicing phishing are electronic mail or instant messaging.
  17. 17. Measures To Avoid E-Banking Fraud. Frauds • Look a like sites • Email which requires urgent financial information. Measures • Typing of BANK’S web address carefully. • Answer to such email’s only after confirming with the bank.
  18. 18. @ The user should be suspicious of any email with urgent requests for personal financial information.They typically ask for information such as usernames, passwords, credit card numbers, social security numbers, date of birth,etc.
  19. 19. @ A legitimate Internet Banking Operation will never ask for the user’s password through mail’s. Points To Remember : @ Do have a look at the “s” written after “http” whenever you enter your bank website @ A feeling of satisfaction.
  20. 20. @ www.google.com Bibliography: @ http://:www.banknet.india.com @ http://:correctbanking.com @ http://:buzzle.com/articles @ http://:en.wikipedia.org/online banking
  21. 21. THANK YOU