Online Banking Security

Online Banking Security

1. Chip and pin

   • A security method used to reduce card fraud
   • PIN stands for personal identity number
   • Credit and debit cards use it
   • A microchip is put in the credit/ debit card and then can be used to check if the PIN code you entered into the card reader is correct
   • You can tell if a card is chip and pin if there is a small rectangle of gold contacts on the surface

2. Contactless payment

   • A new way of paying using a credit or debit card without swiping the card or entering the pin
   • Uses NFC
     • A way of contactless payment that is also used on Smartphones
     • Near Field Communication

3. Security tests

   • CAPTCHA
     • A CAPTCHA is a program that can generate and grade tests that humans can pass but current computer programs cannot
   • Memorable question
     • You can either use a template question or make one up yourself
     • E.g. Mothers maiden name, first dogs' name?
   • Picture/sound
     • Not as commonly used as CAPTCHA
     • Asks you if you remember the picture and may be linked to a memorable question
   • PINsentry
     • Used to guarantee the owner has the card with them
   • Mobile PINSentry
     • Could become the most popular way
     • Works in the same way as a PINsentry but comes as an app

4. Verification

   • Verification is used to check that data has been entered into the computer matches the original data.
   • Most common method is to ask the user to enter the same password twice to make sure that it was entered right first time
   • Double-checking

5. Validation

   • Validation is an automatic computer check to ensure that the data entered is sensible and reasonable. It does not check the accuracy of data.

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