Banks & ECommerce Network Security Threats and Best Policies in Practice
Adam Ali, Zare Hudaib · 2014
This increase in ecommerce has driven the need to create an online payment system. Unfortunately, there are a lot of flaws and internet frauds. Cybercriminals have benefited from online banking (OB). We try to predict how hacking tools might evolve. We briefly survey the stateoftheart tools developed by blackhat hackers and conclude that they could be automated dramatically. To demonstrate the feasibility of our predictions and prove that many twofactor authentication schemes can be bypassed, we have analysed banking and modern payments system security. In this research we review different payment protocols and security methods that are being used to run banking systems. We survey some of the popular systems that are being used today, with a deeper focus on the chips, cards, NFC, authentication etc. In addition, we also discuss the weaknesses in the systems that can compromise the customer's trust.