What is online banking? Online banking being known as internet banking,It is an electronic payment system that enables customers of a bank or other financial institution make financial transactions through the financial institution’s website. The online banking system will typically connect to the core of banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.
Some banks operate as a direct bank but some bank operate as virtual bank where their system are relying completely on internet online banking.Internet banking software provides personal and corporate services that offering lot of features such as customer can overview their account balance, obtain bank statements, checking recent transaction and making transaction.
Online banking refers to banking services where people can manage their accounts from many aspects in any kind of situation through the Internet, rather than visiting the bank by themselves or call them using telephone. Online banking has secure connection for customer to get into their banking information through the customer home computer or another device. (Online banking refers to banking services where depositors can manage more aspects of their accounts over the Internet, rather than visiting a branch or using the telephone.
Online banking typically is comprised of a secure connection to banking informati, n.d.) Banks worldwide the world are doing their best to increase the efficiency of online and mobile financial services,By offering their customers more convenient way to manage their banking affairs while at the same time improving saving customer time and saving on operating costs. However, online banking has its drawbacks.Online banking accounts are frequently being targeted by cybercriminals. Security issues remain as a major concern for customers and corporations alike. As a result, banks need to resolve an adequate security measures to protect themselves and their customer base.
Computer security risks
What is computer security risks? Computer security risks is an event or action that can cause a loss of or damage to computer or mobile device hardware,software,data,information or processing capability. The common security risks that customer and corporation having issues are include malicious code,virus,worm,Trojan force,unauthorized access and use,hardware theft,software theft and information theft. (vermat, 2016).All the users need a protection systems for their accout to prevent theft to damage their hardware, software, or electronic data, also from the disruption or misdirection of the services they provide for the users.This field is becoming popular and more important issues due to increasing of dependency on computer systems, Internet and wireless network standards such as Bluetooth and Wi-Fi, also due to to the growth of smart devices including smartphones, televisions, and various devices that being develop through day by day because of this intricacy so both in terms of politics and technology, cybersecurity is also one of the major challenges in the contemporary world.
Computer security basically is the protection of computer systems and information from harm, theft, and unauthorized use. It is the process of preventing and detecting unauthorized use of your computer system.
There are several types of security risks such as malicious code,virus,Trojan horse,unauthorized access and use,hardware theft,software theft and information theft.This are major security risks that always happen worldwide that being evolve getting more danger day by day.
Malicious code is the kind of harmful computer code or web script designed to create undesired system leading to back doors, security breaches, information and data theft, and other potential damages to files and computing systems. It is a type of threat that may not be blocked by antivirus software on its own because this treat hard to dissolve by antivirus alone itself.For example, the code gives a cybercriminal unauthorized remote access to the attacked system called an application back door that can exposes personal or sensititive data.By share it,cybercriminals can easily wipe out any data that stored in computer or they can install spyware to stalk us from webcam.this will affect our routine lifes.
Software theft means the unauthorized or illegal copying, sharing or usage of copyright-protected software programs. Software theft may be carried out by individuals, groups or, in some cases, organizations who then distribute the unauthorized software copies to users.
Software theft is committed when someone performs any of the following:
- Steals software media
- Deliberately erases programs
- Illegally copies or distributes a program
- Registers or activates a software program illegally (vermat, 2016)
- Information theft
Identity theft is the deliberate use of someone else’s identity, usually as a method to gain a financial advantage or obtain credit and other benefits in the other person’s name and perhaps to the other person’s disadvantage or loss. The person whose identity has been assumed may suffer adverse consequences especially if they are held responsible for the perpetrator’s actions. Identity theft occurs when someone uses another’s personally identifying information, like their name, identifying number, or credit card number, without their permission, to commit fraud or other crimes.