Securing Online Banking transactions for customer is the primary goal of financial institutions that provides Internet banking facility. Mobile phones play an important role in our society as more and more functions having been integrated within mobile phones, such as Internet browsing, mobile banking, and shopping. Mobiles phones can be used to secure ATM card pins by sending to the customer directly rather than in emails or by other means which has a possibility of hacking. In this paper we have proposed method of generating a Private Key Security Token by bank authentication servers which uses IMSI registers and IMEI number of client’s mobile registered. The key is generated by implementing RIPE MD160 and Hex Encode Algorithm. Token received is valid only for that client mobile only and can be generated upon request by customer dynamically. The client is given a PIN and a Master Key when registered to the Online Banking Services. If in case a client’s mobile is lost, authentication is done using Unique Master Key, else the Private Key Token is used there by making transactions secured and simple without the need of carrying any USB Tokens. The additional functionality provides the client more security on their transactions. Due to this Phishing attacks by the hackers is avoided.

Date Published: 14 March 2013
PDF: 5 pages
Proc. SPIE 8768, International Conference on Graphic and Image Processing (ICGIP 2012), 87684L (14 March 2013); doi: 10.1117/12.2011381

Published in SPIE Proceedings Vol. 8768:
International Conference on Graphic and Image Processing (ICGIP 2012)
Zeng Zhu, Editor(s)