A Study on Multi Phase Security Solutions to ATM Banking System

Abstract

The growth in electronic transactions and banking system has resulted in greater demand for fast access of banking transactions with the aid of Automated Teller Machine (ATM). The quick increment in the utilization of ATM transactions has been closely followed by the increase in ATM frauds. The security problem and fraudulent transactions are the biggest deterrents in the continuous or widespread use of ATM transactions. For the security of ATM just possession of password or prior knowledge of computer systems or ATM machines not altogether enough. In ATM, security is essential in different aspects including physical machines, transactions, user authentication and integrity and finally user security itself. Hence fraud prevention and security has become essential ingredients in order to increase the number of ATM users and to improve client trust and confidence over ATM’s. This paper explains about and examines the different types of security breaches in ATM banking systems. This paper also expounds improved security solutions to ATM’s in multiphase’s, which take into accounts all the aspects of security in all fields of ATM banking system, which is derived through focus group interaction. This paper could assume a functioning job in genuine research on ATM transaction framework security