Amity Business School

Cyber Banking

Submitted by:-
Swati Singh (E09)
Sumedh Joshi (E )
Mohit Sachdev (E 64)
Saatvik Kaushik (A23)
 Amity Business School

What is Cyber Banking?

• Cyberbanking is an innovative and integrated electronic banking service
that allows you to access related accounts via the Internet.
• With Cyberbanking, you can check your accounts, manage your finances,
and transfer funds anytime, anywhere.
• Online banking allows a user to conduct financial transactions via the
Internet.
• Consumers aren't required to visit a bank branch in order to complete most
of their basic banking transactions.
• A customer needs a device, an Internet connection, and a bank card to
register. Once registered, the consumer sets up a password to begin using
the service.

You can enjoy the following services via Cyberbanking:
• Account enquiry (account balance
and transaction history)
• Fund transfer and bill payment
• Scheduled instruction for fund
transfer and payment
• Remittance
• Stock trading
• Linked investment products
• Cyberfund Centre
• Time deposit
• Electronic messaging
• Change of PIN
Amity Business School
• Registration/Change of email
address
• One-time password registration
• Information
• ATM cards services – report loss
and overseas ATM cash
withdrawal/POS/CyberAlert
settings
• Mobile Banking service settings
• Risk assessment
• Rate Enquiries
• Cheque Book Requisition
 Amity Business School

Risk in Cyber Banking

To Customers:
• Phishing
• Key logging
• Spyware
• Malware
 Top Reasons For Cyber-Risks Amity Business School

• Limited configuration security: Primarily, the base configuration that

companies implement lack encryption and proper hashing of passwords.

• Inconsistent encryption enablement: While most organizations focus on

encryption within a system, it is equally important to address this level of
enablement between systems.

• Weakness in code security: At times, user-developed code hasn’t been

reviewed and analyzed to make sure that it is “vulnerability free.”
 Recommendations For Security Amity Business School

• Operating system and database security: Implement restrictive database-

access mechanisms and dedicated security requirements for all operating
systems.

• Front-end security: Deploy security configuration for both clients and

mobile endpoints while activating administrator rules and access-control
lists.

• Custom code security: Establish custom-code lifecycle management

processes and use security source-code scanning tools to identify
vulnerabilities hidden in programs.
 Amity Business School

Encryption Tools
• Blowfish – It splits the message into 64 bits and encrypts them, is used in
certain payment gateways. It is fast, effective and flexible.

• Two fish – Keys in this algorithm are 256 bits in length and it is
a symmetric key encryption technique.

• AES – Advanced encryption standard, trusted by many standard

organizations. It can encrypt is 128 bit, 192 bit as well as 256-bit.
 Encryption Techniques Amity Business School

• Last Pass – Password manager and used to generate strong and secure
passwords.

• Bit Locker – Integrated in Windows OS, it is a full disk encryption tool

which uses AES for encryption.

• HTTP– Makes sure the websites go through an authentication process

while connecting to a secure website.

• VPN’s – Tor browser, Express VPN, Cyber ghost and several other tools
are available for VPN’s. It is used to ensure that the web traffic and data
remains encrypted.
 Amity Business School

Thank you