To Study the Technical Aspects of Detecting and Preventing Cyber Crime with the Focus on Banking

By

ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without which I would have never been able to do this research.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

Signature:

Date:

TABLE OF CONTENTS

ACKNOWLEDGEMENTii

DECLARATIONiii

CHAPTER 1: INTRODUCTION1

Background1

Statement of the problem:1

Aim2

Research Objectives2

CHAPTER 2: LITERATURE REVIEW3

Definition of Internet Banking3

Internet Banking Concept4

Defining Techno-crime, Cyber-crime, Computer Crime and Internet Crime5

E-banking and e-crime6

Many culprits to blame7

Committing crime9

How to Detect Cyber Crime11

How to Monitor Cyber Crime13

Government Response and Recommendations14

CHAPTER 3: DISCUSSION16

Key Technology Risks16

Methods for reducing Cyber Crime24

Recommendations for decreasing cybercrime29

CHAPTER 4: CONCLUSION33

REFERENCES35

APPENDICES37

CHAPTER 1: INTRODUCTION

Background

In the past decade a wave of information technology has swept across the world changing everyday lives. From changes in the way people communicate with one another to innovations in the way people balance their checkbooks, information technology has changed the operations of the world. Developments such as portable computers, e-mail, and the Internet have transformed the world into a virtual playground available to anyone, anywhere, and anytime. Life before the Internet age is difficult to recall; procedures and actions that are taken for-granted today were only dreams of generations past.

Statement of the problem:

The Internet has revolutionized commerce and banking activities, and has become a popular delivery channel of financial products and procedures. Common banking operations that once required bank visits are becoming actions of the past. A customer can conduct a variety of banking and financial transactions from the comfort of their own home at any time of the day, any day of the week. This 24 hours a day, 7 days-a-week availability, commonly referred to as e-banking, has unmasked a variety of time and money saving techniques for customers (Baron 2001 25 ). Furthermore, e-banking has the added potential of improving a bank's relationship with its individual customers and business partners alike. Since e-banking brings financial activities directly into homes and offices with anytime availability and has improved communication and fostered standardization between businesses, banks are finding new and more efficient ways to conduct business. There is no single place where compiled information is comprehensive and sufficient enough to achieve online banking security in the U.S.

Aim

The research aims to put light on the cyber crime in the banking context. The research will put light on the technical aspects of the cyber crime and how they can be tackled.

Research Objectives

The research has the following objectives

What is cyber crime?

How cyber crime affects the banking industry?

How to improve online banking security on the user side?

How to improve online banking security on the bank side?

How to institute a suitable security policy for ...