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This document discusses security threats for Horizon Trust Bank's online banking services. It identifies vulnerable tasks like bill payment, funds transfers, and investments. The threats can result in financial losses, reputational damage, and regulatory consequences for the bank. Common threats include phishing attacks, weak passwords, and unsecured networks. The document outlines solutions such as multi-factor authentication, transaction monitoring, encryption, and enhanced monitoring systems. It emphasizes the need for continuous evolution, a customer-centric focus, and a unified industry approach to combat evolving online banking threats.

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37 views

BPS Presentation

This document discusses security threats for Horizon Trust Bank's online banking services. It identifies vulnerable tasks like bill payment, funds transfers, and investments. The threats can result in financial losses, reputational damage, and regulatory consequences for the bank. Common threats include phishing attacks, weak passwords, and unsecured networks. The document outlines solutions such as multi-factor authentication, transaction monitoring, encryption, and enhanced monitoring systems. It emphasizes the need for continuous evolution, a customer-centric focus, and a unified industry approach to combat evolving online banking threats.

Uploaded by

hansanikt12
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Security

Threats for
Horizon Trust
Bank
HND COM 50 – Group 07
Horizon Trust
Bank
At Horizon Trust, we are dedicated to providing
you with exceptional banking services tailored to
meet your needs. Whether you're saving for the
future, managing your daily expenses, or planning
for major milestones, we are here to support you
every step of the way. With a focus on trust,
reliability, and innovation, Horizon Trust Bank is
committed to helping you achieve your financial
goals with confidence.
Online Banking
Threats
Horizon Trust Bank faces increasing challenges in the
realm of online banking security. The landscape of threats
continues to evolve, demanding proactive measures to
safeguard customer data and the integrity of transactions.
Table of contents
Vulnerable Tasks in Impact of Online
01 the Bank 02 Banking Threats

Common Online Solutions to Mitigate


03 Banking Threats 04 Threats

Conclusion and Key


05 Takeaways
01
Vulnerable
Tasks in the
Bank
Vulnerable Tasks

Bill Payment Fund Transfers Investments


Enabling customers to pay bills Facilitating transfers between Providing tools and platforms
online to utility companies, the customer's accounts within for customers to buy, sell, and
credit card providers, and other the same bank or to accounts in manage their investments
billers. other banks. online, including stocks, bonds,
and mutual funds.
02
Impact of Online
Banking Threats
Financial Losses
Online banking threats have real
financial implications for both the
institution and its customers. Incidents
can lead to fraud, theft, and disruptions
in financial operations.
Reputational
Damage
Security breaches can cause significant
harm to the bank's reputation, eroding
customer trust and confidence in the
institution's ability to protect sensitive
data.
Regulatory
Consequences
Non-compliance with regulations due to
security breaches can result in legal
penalties and a loss of goodwill within
the industry and with regulatory bodies.
03
Common Online
Banking Threats
Phishing Attacks
Deceptive emails, text messages, or
websites aimed at obtaining sensitive
information such as login credentials or
account details.
Weak Passwords
Insufficiently strong or reused
passwords significantly increase
vulnerability to unauthorized access
and data breaches.
Unsecured
Networks
Public Wi-Fi or unencrypted
connections are often exploited by
cybercriminals to intercept sensitive
data during transmissions.
Impact of the threats
5% 20%

Others Unsecure Nets


Other security threats Using public Wi-Fi,
caused unknown hotspots, etc.

45% 30%

Weak Passwords Phishing Attacks


Many users use weak password Getting caught by fraud
for their accounts emails and web links
04
Solutions to
Mitigate Threats
Existing Solutions to Mitigate Online
Banking Threats
1 2 3

Multi-Factor Real-time Transaction Secure Socket Layer


Authentication Monitoring (SSL)
Implementing additional Advanced systems to detect and Utilizing SSL technology to
verification steps beyond flag suspicious account activity encrypt data exchanged between
passwords to enhance user or abnormal transaction the customer's device and the
identity validation. patterns. bank's servers.
Other Solutions

Enhanced Monitoring Biometric


Data Encryption Systems Authentication
Data encryption secures Enhanced monitoring provides Biometric authentication
sensitive information by heightened surveillance and verifies identity through unique
converting it into a coded oversight to detect and address physical or behavioral traits like
format that can only be accessed potential threats or anomalies fingerprints or facial
with the correct decryption key. effectively. recognition.
05
Conclusion and
Key Takeaways
1 2 3

Continuous Customer-Centric Focus Unified Approach


Evolution
Online banking threats evolve Emphasizing the importance of Recognizing the collective
rapidly, requiring ongoing customer security and trust as responsibility of industry
vigilance and adaptation to core principles in combating stakeholders in safeguarding the
emerging risks. online banking threats. online banking ecosystem.
Thank You !

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