Secure implementation of e-Banking

Abstract

Protecting electronic banking information has grown to be a necessary and unavoidable occurrence due to the many problems such data would cause if it landed in wrong hands. While Internet and SMS banking provide convenience benefits to customers, they may also result in a number of risks, exposing users to a number of threats and an increased risk of fraud for their money. This report provides findings from contemporary literature and interviews, which were carried out. The first section provides information on the security concepts within Internet and SMS banking and then observation of the current e-banking situation in Uganda follows. The next section of this report provides information on the verification mechanisms used to validate the security protocols used. The report concludes by suggesting recommendations on how to improve the security mechanisms in the implementation of Internet and SMS banking.