INTERNET BANKING: FRAUDS AND PREVENTION

Abstract

Abstract Internet banking gives customers a lot of satisfaction in terms of getting a better service quality; it also gives banks a competitive advantage over the other players in the sector. However, the security of Internet banking has received attention due to the fraudulent behaviour of fraudsters; the absence of adequate Internet banking security has kept many people away from the service till today. In this paper, a review of the security challenges associated with Internet banking has been presented. Equally, the challenges and characteristics of Internet banking fraud have been mirrored. This paper also reviewed different types of fraud as well as some preventive measures in place to secure Internet banking services. The different techniques and models used for Internet banking security were ranked in this study based on an expert opinion. This paper is prepared into two parts; the first part introduced the topic Internet banking of the paper while the second part presented that type of common Internet banking Frauds and how to prevent Internet banking frauds. The literature review was presented in the third part of the paper. Key words: Internet banking, Internet banking frauds, Virtual banking, prevention banking frauds