Operational risk management and fraud prevention in internet banking
Bojan Đorđević, Mira Đorđević · Bankarstvo · 2010
Development of information technology and electronic money determined the expansion of electronic payments, especially in the Internet banking domain. Number of clients using electronic banking services by Internet is growing. With the expansion of electronic products and banking services, bank exposure to risk in daily operations is growing, as well as the number of frauds and their perpetrators, the so-called cyber criminals. Among the identified Internet banking risks, and different forms of fraud and cyber crime, the most significant are the external attacks on the banking systems, regarding user identity theft and robbery. This paper deals with the operational risk management in Internet banking, with the focus on the detection of external frauds and other forms of cyber crime, together with protection methods for empowering safety of both the bank clients and of the electronic banking systems.