AN ANALYSIS OF SECURITY ISSUES IN E-BANKING

In the midway of the 1990s, due to proliferation of the internet and other pioneering area of Information Technology have affected the financial system greatly, such as by moving from limited proprietary systems to open networks. E-banking which is one of the most promising areas of e-finance as financial services are information-intensive and often require no physical transition. E-banking has become increasingly gaining popularity globally, because it is easy and convenient for Internet users to deal with their bank accounts from anywhere of the world at any time. Banks have encouraged for this trend for several years, since it saves lots of resources for the banks regarding of staff training, investment for ATMs and branches, and other operations costs. This easy access to financial accounts makes Internet banking a common target for hackers and other online intruders. Present study focuses on the analysis and evaluation security issues in e-banking system.