E-banking provides significant benefits to both banks and customers by offering convenience, increased access, and lower costs. It allows customers to bank anytime from anywhere while solving issues with traditional banking like time and place constraints. However, e-banking also presents new security threats like ATM skimming, online fraud, and mobile malware that require preventative measures such as EMV chips, multi-factor authentication, encryption, and education. Overall, e-banking has become necessary for modern banking while continued innovation aims to address ongoing security challenges.

1. E-Banking & Security Concern
Syed Akhtar-uz-zaman (IFIC-010)

2. • What is E-Banking ??
• Evaluation of E-Banking
• Threats and preventive measures of
 ATM
 Mobile Banking
 Online Banking
Presentation Outline

3. • on-line, real time banking
E-Banking
• the automated delivery of banking products and
services directly to customers through electronic,
interactive communication channels.

4. • Traditional banking business assumes:
– Customer desk at bank’s building
– Office hours from 10.00 am to 6.00 pm
Traditional banking

5. • Solving time constraint
Evaluation of E-Banking
• Solving place constraint
• Virtual banking(everything is
possible)

6. • “brick and mortar” institution
(has a building and personal service representatives)
• “brick and click” institution
(physical structure + Internet bank services)
• “virtual bank”
(no public building – exists only online)
Banking Option

7. Internet Approach:
Users directly log on to their bank website and
complete all their work online.
Approaches E-banking
Dial-in Approach:
Requires users to have a separate finance
software, so that they can do all the process offline
and connect to the bank just for transactions.

8. E- Banking devices
 Automated teller machines (ATMs)
 Cellular and smart phones
 Personal computers (PCs)

9. Automated teller machines (ATMs)
A machine that automatically provides cash and
performs other banking services on insertion of a
special card by the account holder.

10. Functions of ATM
24-hour access to cash
View Account Balances & Mini-statements
Order a Cheque Book / Account Statement
Transfer Funds between accounts
Refill your Prepaid card
Pay your utility bills
Deposit cash or cheques

11. Structure of ATM
Card reader
Keypad
Speaker
Display screen
Receipt printer
Cash dispenser

12. ATM Threaths
Attacks against ATMs may be classified as:
ATM physical attacks
ATM fraud

13. Functions of ATM
Safety Tips To Follow
While Using an ATM

14. Safety against physical attacks
Debit card security
Check your surroundings
Limit your transaction time
PIN number security
Stay alert
Notify loss of card

15. ATM Skimming
The act of using a skimmer to illegally collect data from the
magnetic stripe of a credit, debit or ATM card. This information is
copied onto another blank card's magnetic stripe
The skimmer is an electronic device that scans a credit/debit card
and stores the information contained in the magnetic stripe

16. PIN capturing
PIN capturing refers to a method of strategically attaching
cameras and various other imaging devices to ATMs in
order to fraudulently capture the ATM user’s PIN

17. ATM skimming process

18. Mitigating risk

19. Mitigating risk-S1
Shield Your PIN
Use your other hand to shield your fingers while you type in your PIN. Experts say taking this one
simple step could practically eliminate ATM skimming. This is because if the hidden camera can’t
capture your PIN, the mag stripe data captured by the skimmer is useless to the thief.

20. Mitigating risk-S2
Examine an ATM carefully before inserting your card. While skimmers may be hard for the untrained
eye to spot, they actually become pretty obvious if you’re on the lookout for them. They usually
consist of an extra piece of plastic that sits atop the slot where you insert your ATM card. They’re
usually attached to the ATM using two-sided tape, so if it looks suspicious, jiggle it a little — if it’s
loose, it might be a skimmer.
Check the ATM

21. Mitigating risk-S3
Avoid Low Traffic Areas
Don’t use ATMs in secluded, low-traffic areas. It takes a few minutes for thieves to install skimmers, so
they usually choose ATMs in more secluded areas with less foot traffic so they’re less likely to be seen.
If possible, try to only use ATMs in high-traffic areas like grocery stores, the mall or outside the bank
itself.

22. EMV Chip Card Technology
"EMV® is a global standard for credit and debit payment cards based on
chip card technology”. The standard covers the processing of credit and
debit card payments using a card that contains a microprocessor chip.

23. Mobile Banking
Mobile banking or m-banking is a term used for
performing banking activities on mobile phones and
tablets.
The earliest mobile banking services were offered
over SMS.

24. The future of banking

25. ADVANTAGES OF M-BANKING
Benefits for Banks
Large customer coverage
Reducing the costs of operations
Promoting their services and products internationally
Benefits for Small to Medium Businesses
To run its operations more effectively
Lower cost than traditional financial management mechanisms
Benefits for Customers
Convenience
Cost
Speed
Competitiveness
Communication
Environmental

26. ACCESS METHODS
Text messaging
Mobile app

28. Vulnerability of mobile apps

29. Prime targets for attackers
Data
Identity
Availability

30. Types Of Mobile Frauds

31. Cyber Attacks and Malware
Top mobile attack methods are:
Social engineering threats
Malvertising
Repacked, malicious apps on third party app stores

32. The most common threats

33. 7 mobile banking security tips

34. Online banking
Online banking is the performance of banking activities via the
Internet. Online banking is also known as "Internet banking" or
"Web banking." A good online bank will offer customers just
about every service traditionally available through a local branch
May 1995: Wells Fargo – the first bank in the world offer
customer access to their accounts over the internet.

35. The Benefits of Virtual Banking
Online banking has plenty of perks. These include:
Convenience
Services
Ease of monitoring
Transfer services
Available account balance & information at the touch of a
button

36. Advantage of virtual banking
Electronic funds transfer
Bill payments and wire transfers
Loan application and repayments
Deposit cash or cheques
downloading bank statements
viewing images of paid checques

37. Online Banking FRAUD
Phishing
Pharming
Social Engineering
Malware

38. Phishing
Electronic means of acquiring customers’ sensitive
information by disguising as a very trustworthy entity.

39. Phishing
Fake e-mail or fake websites sent to customers, as if it’s
from their banks that lead customer to a fake website.

40. Pharming
Pharming is a type of fraud that involves diverting the client Internet
connection to a counterfeit website, so that even when the user enters
the correct address into his browser, it ends up on the forged site

41. Social Engineering
Social Engineering is a
non-technical method
of intrusion hackers
use that relies heavily
on human interaction
and often involves
tricking people into
breaking normal
security procedures.

42. Malware
A Malware is a set of instructions that run on your
computer and make your system do something that an
attacker wants it to do
The Malware family
Computer Viruses
Trojan Horses
Internet Worms
Scareware
Adware
Ransomware
Keyloggers

43. How malware works

44. Banking fraud prevention tips
Malware Protection
Multi-factor Authentication
Personal Firewalls
Spike Activity Identification
KeCrypt tool

45. Malware Protection
Implement powerful an antivirus and an antimalware
software with on-access / real-time scanner checking
legitimacy of files.

46. Anti-malware programs
They provide real-time protection against
the installation of malware software
Scans all incoming network data for
malware and blocks any threat it comes
across - can be used solely for
detection and removal of installed
malware software.

47. Multi-factor Authentication
Supports another level of authorization in addition to the
initial login requirement, usually involving real-time
generation of a code.

48. Personal Firewalls
This program monitors all outgoing and incoming information between your device
and the internet and only familiar authorized connections are allowed.
A personal firewall will usually protect only the computer on which it is installed.

49. Spike Activity Identification
Trend analysis helps in this process, when an un-usual activity
occurs in an account, either a high amount or different location
or frequency
Accounts associated with a lot of high-risk behavior should be
on top list of banks investigation.

50. Encryption
Involves encoding
messages or information
in such a way that only
authorized parties can
read it when decoded.
The common encryption
standard adopted by
most browsers is called
Secure Socket Layer (SSL)

51. Is E-Banking Really Necessary?
H2: Savings interest rate, online banking, closing hour, waiting time, security
and confidentiality are the major parameters for selecting their bank.