Internet Banking Security
This paper discuses that there is no definitive answer to the question of banking and security transactions on the internet because, as increasing safeguards are added, the defrauders and hackers on the internet always seem to catch up.
# 64517 | 2,020 words | 23 sources | MLA | 2005 |
Published on Mar 21, 2006 in Business (Finance, Investment and Banking) , Business (Information Mgmt. and Systems) , Computer and Technology (Internet) , Criminology (Public and Crime)
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This paper explains that internet crime includes eager young hackers, who infiltrated web sites to see if they can get away with it; professionals, who are looking for individual data and account numbers and computer frauds such as pyramid schemes and stolen credit cards used to defraud people by ordering high-end merchandise. The author points out that Citibank has three "lines of defense" against unlawful use or access to a customer's account information: (1) Firewalls and VeriSign digital IDs, which act as an electronic checkpoint, refusing access to any intruder; (2) a scrambled 128-bit strong encryption and (3) log-on authentication, which includes not only the T-PIN number but also an additional 6-digit alphanumeric code, containing both letters and numbers. The paper relates that internet security has become an industry in itself; many large financial institutions are building gateways to protect their information storage and retrieval systems from unlawful entry.
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Internet Banking Security (2006, March 21) Retrieved May 10, 2021, from https://www.academon.com/essay/internet-banking-security-64517/
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