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INFORMATION SECURITY AWARENESS & INTERNET BANKING ACCEPTANCE

Sudeep S, MIB,CISA
Principal Consultant iFortGlobal Consulting, Kochi
www.ifortglobal.com

Introduction
Growth of Internet in India New banking channels
Branch Banking
Internet Banking Mobile Banking

Phone Banking

Banking, Financial Services and Markets: Emerging Paradigms

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Internet User: Year 2008 (All India)

Source: Internet & Mobile Association of India (IAMAI)- I-Cube 2008

Banking, Financial Services and Markets: Emerging Paradigms

25 March 2009

Internet Banking Block Diagram

Banking, Financial Services and Markets: Emerging Paradigms

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Factors affecting Internet Banking Acceptance


Usefulness
Ease of Use Security Concerns

Quality of facilities
Trust & Privacy Consumer Awareness

Peer group influence


Banking, Financial Services and Markets: Emerging Paradigms 25 March 2009

What is Information Security ?


Information Security means to ensure the confidentiality, integrity, and availability of

information through safeguards.


Confidentiality that information will not be disclosed to

unauthorized individuals or processes Integrity the condition of data or information that has not been altered or destroyed in an unauthorized manner. Data from one system is consistently and accurately transferred to other systems. Availability the property that data or information is accessible and useable upon demand by an authorized person.

Banking, Financial Services and Markets: Emerging Paradigms

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Who Is Responsible for IT Security?


Everyone who uses a computer needs to

know how to keep his or her computer and data secure to ensure a safe working environment.

Banking, Financial Services and Markets: Emerging Paradigms

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Information Security Risks in Internet Banking (for a customer)


Viruses Spyware (Software installed w/o your knowledge

or consent) Security Holes in the Operating System Unsecured User accounts Improper storage and transmission of data
Paper Documents Electronic Documents
Hardware Failure

Banking, Financial Services and Markets: Emerging Paradigms

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Information Security Risks in Internet Banking (for a customer)


Trojans / Worms Denial of Service Attacks Network Port Scans for available services Brute Force password hacking Social Engineering Phishing RootKits

Banking, Financial Services and Markets: Emerging Paradigms

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What Is Information Security Awareness?


Information Technology Security Awareness

means understanding various information technology threats that exist in one's computing environment and taking reasonable steps to guard against them.

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Benefits of imparting IS Awareness


Helps reduces the security concerns in

customer minds Improves the acceptance of Internet banking channel Avoids loss of time & money related to IT fraud incidents

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Key IS Awareness tips of Internet Banking Customers


Monitoring my accounts and statements frequently and

thoroughly, ensures that all activity is accurate. Should always thoroughly tear or shred documents with personal information. Should protect account information like personal identification number (PIN),Username , Password etc. Should ensure that computer(s) are equipped with a security toolkit (software) to help keep trespassers out. Should change passwords periodically, using strong passwords that could not be easily guessed.
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Banking, Financial Services and Markets: Emerging Paradigms

25 March 2009

Key IS Awareness tips of Internet Banking Customers


Should always log off from bank site after an online

banking session. Should shut off/disconnect computer from the Internet when not in use. Should be suspicious of requests for personal information from unknown sources.

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Delivering IS Awareness Campaigns


Posters Brochures Conducting Awareness classes Web delivery via Web Pages, PowerPoint or

video Tip of the month via email to distribution lists

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Conclusion
Internet Banking has become one of the most

important banking channel Due to the rising transactions cost of branch banking, banks are encouraging usage of IB Security concerns are major hindrance to IB Information Security Awareness holds the key for more extensive IB acceptance.

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The only truly secure system is one that is powered off, cast in a block of concrete and sealed in a lead-lined room with armed guards. Gene Spafford

THANK YOU
Sudeep S 98460 80366 sudeeps@ifortglobal.com www.ifortglobal.com