Discuss security measures which could be adopted by businesses and individuals involved in e-banking/on-line banking

      

Discuss security measures which could be adopted by businesses and individuals involved in e-banking/on-line banking.

  

Answers


gregory
Security measures taken by business;
- Secure customer identification and authentication. Access to the e-banking service is
controlled through the use of a customer number and password. The e-banking serve
uses the combination of these two codes to uniquely identify each customer.
- Guarantee of maximum secrecy in the transmission of data. e-banking is
hosted on, and supported by, a system which uses the most powerful encryption
technology that is commercially available. The use of encryption guarantees that the
information exchanged between your system and the e-banking system remain
confidential and cannot be intercepted. Both the online submission of applications
for subscribing to internet banking services and the electronic transactions conducted
are protected using the highest encryption levels applied worldwide for this purpose.
- Digital certificates –the use of digital certificates which are issued by trusted third parties, allow
users to verify the identity of a system.
- Automatic log-out the e-banking service has been designed so as to log you out
ofthe system automatically, if the system has not been used for more than 5 minutes.
This precaution aims to provide you with relative security in case you forget to
disconnect, by preventing third parties from using the service in your place.
- Use of special purpose security software and mechanisms –maximum care
hasbeen taken to ensure the security of the network as well as of the systems that
support the service. In addition to encryption, the e-banking service is protected by
multiple, state-of-the-art, special purpose security software systems such as firewalls
and intrusion detection systems (IDs). At the same time, special emphasis has been
placed on physical security, and for this purpose access to the e-banking systems
allowed only to authorize employees of the bank.
- High availability with the aim to offer a continuous, uninterrupted service to
itscustomers, the banks have invested in technologies that ensure high availability levels
for the e-banking service.
- Continuous security audits and checks against electronic fraud –
forguaranteeing the best possible service to you, the bank conducts daily audits of the
e-banking infrastructure and application, checking for attempts or traces of security
threats or electronic fraud. In parallel, and in co-operation with companies
specializing in security, the banks conduct regular additional audits to confirm and
enhance the security of this particular infrastructure.
- Protection of personal data. Acquisition and processing of your personal data and account details
is performed by the banks with the utmost care and only to the extent required for the services provided. The banks continuously sees to it that your
personal data are secure, in compliance with Laws 2472/1997 and 2774/1999, and
with all additional ordinances, circulars and directives issued by the Hellenic Data
Protection Authority and by any other national or European Community authority.
- Security measures taken by individuals protect your e-banking service
password. Try to memorize your password, and destroy any document on which itis
printed. Customers are held liable for all the transactions conducted using the
customer numbers and passwords regardless of whether the natural persons who
conducted such transactions were the customers themselves or not. Therefore,
protecting your password is very important.
- Never disclose in any way whatsoever (e.g. orally, in writing, via e-mail) your password to third
parties.
- Password that you originally receive is valid only for the first time you log into the
system. After you enter your customer number and password for the first time, the
system will prompt you to change your password. Select a password that is difficult
to figure out; this should be composed of 6 to 8 digits, of which at least one should
be a letter of the alphabet. Avoid using your name, your date of birth or information
that is characteristic of you or of those close to you.
- If you believe that a third party may have found out your password, contact immediately the
Direct Banking Customer support centre.
- Check the digital certificate in order to be sure that you are connected to the e-
banking system. You should check the identity of the system by checking its digital
certificate.
- Check your account if you observe in your monthly account statement any activities
which do not remember to have made, contact immediately the Direct Banking
Customer Support.
- Follow the log-in and log-out procedure you should always follow the log-in and log-
out procedure for connecting to, and disconnecting from the e-banking system, especially
if you are using a computer that is also available to other users.
- Protect your PC against viruses –you should protect your PC against
computer viruses, which are mainly spreading through email messages, by installing an
anti-virus application on your PC. You should also remember to regularly update this
application in accordance with the instructions of its manufacturers.
- Configure your PC for Enhanced Security – this will assist to keep off hacker and any other
unauthorized user to the system.
gregorymasila answered the question on November 27, 2017 at 13:36


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