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Abstract
While eBanking security continues to increase in sophistication to protect against threats, the usability of the eBanking decreases resulting in poor security behaviors by the users. The current research evaluates security risks and measures taken for eBanking solutions. A case study is presented describing how increased complexity decreases vulnerabilities online but increases vulnerabilities from internal threats and eBanking users.
Keywords: ebanking; security; case study
© Aaron M. French, 2012
INTRODUCTION
People use the Internet for various reasons such as shopping and online banking. One of the major concerns when purchasing online and accessing financial information is security. Information security is the protection of information and the systems used to store and transmit data (Dhillon and Backhouse, 2000). Companies go to great lengths to secure their customer's information and gain their trust. As technology continues to advance, security measures also continue to improve and become more sophisticated. While security continues to get stronger, some studies have argued that increased security could have negative effects on the usability of the system it's trying to protect (Braz and Robert, 2006; Yee, 2004). The question then becomes-who are you trying to secure this information from? Users already have reservations about eBanking with a minimum attitude towards its quality at best (Singh, 2011). When security measures are so sophisticated that users cannot access their own information, then security has gone too far.
The current study evaluates previous literature to establish a foundation of research in this area. A case study describing online banking security will be discussed to show the importance of information security in this sector. First, threats to information security will be identified by previously research. Then, security measures implemented to prevent these various threats from occurring will be discussed. Finally, an analysis of the identified threats and preventative measures will be presented to guide security analysts when determining effective levels of security measures.
ONLINE BANKING CASE STUDY
The current study will discuss two instances of user experiences with online banking as an example for discussion. Due to a strong need for security, online banking has increased security measures to include an access code, password, and several additional security questions required for access. Users of these online banking systems setup their account to access bank statements...