Analysis of vulnerability and security issues over auto teller machine transactions and design of a general security model

Abstract

Information technology is a rapid growing sector now a day. Daily new inventions are taking newlineplace in market. In financial sector especially the banking sector there are so many new newlinetechnologies are taking place in financial operations.ATM is an important invention for banking newlinesector. The wonders of modern technology have made it possible for bank customers to interact newlinewith an electronic banking facility as Automated Teller Machine (ATM) rather than with a newlinehuman Being for cash transactions. Electronic banking is one of the newest services offered by newlinealmost all banks to their customers. Electronic banking involves amongst others, Automated newlineTeller Machine (ATM), Point-Of-Sale (POS), and Telephone banking and so on. The high newlinecost of setting up and operating full-service branch offices has led recently to a sharp expansion newlinein limited-service facilities such as Automated Teller Machines (ATMs). The use of ATM has newlinegrown rapidly in popularity because of its low banks transactions costs and customers newlineconvenience which has made it a basic element of today s financial service offering. However, newlinethe ATM which is meant to serve the customers better is now becoming a frightening for some newlinecustomers because of fraud perpetuated in their accounts through ATM withdrawals. This newlineunpleasant experience by customers is one of the challenges of the ATM through all over the newlineworld. As the ATM works without any human teller interactions It is designed with so many newlinesecurity features so that a costumer can perform banking financial transactions without any newlineproblem with secure transactions but remain there are some vulnerabilities are there which newlinemake the transaction unsuccessful and unauthorized transactions can be made using ATM . newlineThis research analyzes such vulnerabilities and security issues the ATM challenges and to extend newlinesuggestions that would enhance better bank-customer services with protected environment. newlineThe subject of this thesis is the analysis of vulnerabilities and security issues is an analytical design of a generic