ISSN 0974 - 9330 (Online); 0975 - 2307 (Print)
Enhancing Cyber Security of Online Accounts via A Novel Protocol and New Techniques
ABSTRACT
The financial world has gotten more sophisticated. People need to make informed financial decisions, so they seek out efficient tools to help them manage their finances. Traditionally, money management software has been available for individuals to use in their homes on their personal computers. These tools were a local install, often expensive, and required a learning curve to use them effectively. With a paradigm shift to cloud computing and storage, users are looking for inexpensive alternatives that are accessible at home or on their mobile devices. As a result, third-party companies have been forming over the last few years to meet this need. However, to access the functionality of these online resources, users are required to divulge their personal financial account login credentials. While third-party companies claim that subscribers’ private information is safely stored on their servers, one cannot ignore the fact that hackers may be able to break into their system to steal users’ information. Once hackers manage to compromise users’ login credentials, they have complete control over their accounts. Therefore, there is a need to have a holistic approach that incorporates security elements to protect users’ accounts from hackers. We present a novel, holistic model with a new handshake protocol and online account access control, which authenticate account access and form a sandbox around third-party access to users’ accounts. When utilizing these novel techniques, users’ login credentials can remain private, providing safeguards against unauthorized transactions on their accounts.
For more details: http://aircconline.com/ijnsa/V9N3/9317ijnsa02.pdf
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