Hi, I am looking for someone to write an article on safety and security in e-banking Paper must be at least 1250 words. Please, no plagiarized work! One of the most important steps that should be taken up by the bank is to handle the various risks which are associated with e-banking for the easy accessibility of the people. In this context, it is worth mentioning that, trust is one of the significant aspects that should be considered when conducting e-banking. For the consumer to have trust in e-banking, privacy along with security is the key determinant (Dixit & Datta, 2010). The increase in the use of e-banking is due to the cost-effectiveness it provides to the people. This is also giving rise to the growing concern of risks and its controlling measure in order to remain effective and efficient. The increasing need for flexibility, along with rapid and secure exchange is giving importance to e-banking.
There are various concerns related to e-banking that are arising on the basis of security and information protection from the governments, businesses along with individuals. Governments are concerned regarding the ‘Antitrust laws’ in e-banking in order to maintain quality encryption for security. The business is concerned with the safety-related to payments of the lump-sum amount and the individuals are concerned with the maintenance of the personal information. The key security issue by e-banking is to protect the interests of the individuals and the banks with the help of technologies to minimize the risk. The dimension of security is a vital issue faced by the user of e-banking techniques (Yang, 1997).
The risks associated with the e-banking are operational risks that are common as they are related to the transaction. The operational risks might lead to inaccurate processing which relates to data integrity and privacy. The security risk is related to the unauthorized access to information which is critical in nature related to accounting system leading to a lack of safety. .The increase in unauthorized access to the network affects the level of security for the process of banking.