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One of the main concerns with on-line banking is that of security. Fraudulent and accidental security breaches are a rare occurrence. Banks employ many procedures and systems in order to prevent these incidents. As a result they invest a considerable amount of time and money in developing systems which will prevent fraud and unauthorised access. If a security breach is discovered, the bank is liable for all money stolen, and, as a result, insure themselves against the possibility.

The security used in on-line banking is a combination of technology and user authentication. The bank will use a 128 bit Secure Session Layer (SSL) encryption protocol, between its server and the user's browser. The user's browser will show a padlock when the session is secure. Using SSL can be thought of as preventing eavesdropping. If a hacker were to attempt to listen to the data transmission, they would have to guess the decryption key - which is a 1 in 3.4 x10 to the power of 38 chance, making it infinitely secure. From a technology point of view, on-line banking is secure.

The weakest link of on-line banking is user authentication. Typically, a user has to supply a set of answers to questions, which they have previously entered upon registration, as well as a username and password. The banks place the responsibility of keeping these answers secure with the user. If any are disclosed and money is stolen, the liability lies solely with the account holder, not the bank. With this in mind the following is sound advice to users:

Make sure the Web Address starts https:\\ rather than http:\\, this shows that the session is encrypted;
Look for the closed padlock in the browser;
Do not use simple or easily guessable passwords (use a combination of letters and numbers) and change it frequently;
Do not write down any username, password or any other information required;
Always empty the cache of the browser after banking;
Always sign-off when you are finished;
Do not leave the PC unattended while banking;
Do not use the "Auto Complete" feature within the browser;
Check the Terms and Conditions for any notes on where you can and cannot access the on-line accounts. (e.g. an Internet café is not as secure as your home PC);
Use additional software that your bank might recommend (firewall or anti-virus software)
Keep your Web browser up-to-date with the latest patches and versions;
Never send any account information in an eMail as this is insecure. Be wary of any eMail’s from your bank which ask you to send details via eMail, banks will not do this;
Also, be wary of eMails from banks which ask you to log into a Web site and resubmit your details. These fake Web sites have been set-up by fraudsters. If you are unsure of an eMail play it safe and contact your bank to verify the eMail.

E-BANKING Security of E-Banking
What Is Electronic Banking Types of E-Banking Features of E-Banking Advantages of E-Banking Disadvantages of E-Banking Does E-Banking Cost Anything Security of E-Banking The Future of E-Banking Electronic Fund Transfer	One of the main concerns with on-line banking is that of security. Fraudulent and accidental security breaches are a rare occurrence. Banks employ many procedures and systems in order to prevent these incidents. As a result they invest a considerable amount of time and money in developing systems which will prevent fraud and unauthorised access. If a security breach is discovered, the bank is liable for all money stolen, and, as a result, insure themselves against the possibility. The security used in on-line banking is a combination of technology and user authentication. The bank will use a 128 bit Secure Session Layer (SSL) encryption protocol, between its server and the user's browser. The user's browser will show a padlock when the session is secure. Using SSL can be thought of as preventing eavesdropping. If a hacker were to attempt to listen to the data transmission, they would have to guess the decryption key - which is a 1 in 3.4 x10 to the power of 38 chance, making it infinitely secure. From a technology point of view, on-line banking is secure. The weakest link of on-line banking is user authentication. Typically, a user has to supply a set of answers to questions, which they have previously entered upon registration, as well as a username and password. The banks place the responsibility of keeping these answers secure with the user. If any are disclosed and money is stolen, the liability lies solely with the account holder, not the bank. With this in mind the following is sound advice to users: Make sure the Web Address starts https:\\ rather than http:\\, this shows that the session is encrypted; Look for the closed padlock in the browser; Do not use simple or easily guessable passwords (use a combination of letters and numbers) and change it frequently; Do not write down any username, password or any other information required; Always empty the cache of the browser after banking; Always sign-off when you are finished; Do not leave the PC unattended while banking; Do not use the "Auto Complete" feature within the browser; Check the Terms and Conditions for any notes on where you can and cannot access the on-line accounts. (e.g. an Internet café is not as secure as your home PC); Use additional software that your bank might recommend (firewall or anti-virus software) Keep your Web browser up-to-date with the latest patches and versions; Never send any account information in an eMail as this is insecure. Be wary of any eMail’s from your bank which ask you to send details via eMail, banks will not do this; Also, be wary of eMails from banks which ask you to log into a Web site and resubmit your details. These fake Web sites have been set-up by fraudsters. If you are unsure of an eMail play it safe and contact your bank to verify the eMail.
E-COMMERCE E-BILLING E-PAYMENTS E-BANKING E-SHOPPING E-ADVERTISING WEB SITE DEVELOPMENT INTERNET LAW FUTURE OF E-COMMERCE

E-BANKING

Security of E-Banking

E-COMMERCE E-BILLING E-PAYMENTS E-BANKING E-SHOPPING

E-ADVERTISING WEB SITE DEVELOPMENT INTERNET LAW FUTURE OF E-COMMERCE