Securing Online Banking - Threats to Online Banking Best practices for online Banking Users

Securing Online Banking

Description

Most industries have deployed internet technologies as an essential part of their business operations. The banking industry is one of the industries that has adopted internet technologies for their business operations and in their plans, policies and strategies to be more accessible, convenient, competitive and economical as an industry . The aim of these strategies was to provide online banking customers the facilities to access and manage their bank accounts easily and globally.

Online banking, also known as internet banking, e-banking or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.

Online Payments through Unified Payment Interface : UPI Based on IMPS Platform

Online Payments through 

Unified Payment Interface (UPI)

Description : 

Unified Payment Interface (UPI) is an initiative by National Payments Corporation of India (NPCI), set up with the support of the Reserve Bank of India with a vision of migrating towards a "less-cash" and more digital society.

UPI is a system that enables peer to peer online payments for users holding different bank accounts, to send and receive money or to pay directly to merchants from their Smartphone without the need to enter bank account information or net banking UserID / Password.

UPI has built on the Immediate Payment Service (IMPS) platform.

Distributed Denial of Service (DDoS) Attacks from non-traditional Sources

Distributed Denial of Service (DDoS) Attacks from non-traditional Sources

Description

A Distributed Denial of Service (DDoS) attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. They target a wide variety of important resources, like banks,eCommerce websites, Internet Service Providers (ISPs) etc., and present a major challenge to people who publish and access important information.

Attackers launch DDoS attacks from wide variety of internet connected sources like compromised web servers, botnets (malwares),vulnerable misconfigured UDP based services (Open DNS resolvers, NTP, SSDP, SNMP, Chargen ). Attackers changes their tactics & chosen attack vectors time to time .