• P-ISSN 0974-6846 E-ISSN 0974-5645

Indian Journal of Science and Technology


Indian Journal of Science and Technology

Year: 2019, Volume: 12, Issue: 21, Pages: 1-8

Original Article

A Proposed Framework for the Security of Financial Systems


Objectives: This study proposes a framework for the enhancement the security level of the eBanking or online banking systems. Methods/Statistical Analysis: Financial system has been categorically considered as a major critical infrastructure of community, society and country. In addition, the constantly rising number of breaching attacks increased and targeted via Internet. It is therefore recommended to provide more security to such systems from malicious activities. In this regard, this study overviews comprehensive highlighted security challenges, security attacks. In addition, a security framework is also proposed to enhance the security level of discussed systems. Findings: The proposed framework of the system is categorized into two: The first one category discusses Network Standards for the Security of System and the second category is based on architecture of the system. In Network Standards for the Security of System, two standards are defined, one for wired connection while others for wireless connections. The second part is most significant section of the paper, which is comprised of three stages. Stage one comprises basic Security requirements, Stage two defines parameters of Wireless Security design and the third stage deploy security algorithms and techniques to offer secure network. Availability, Reliability, Authentication, Access Control, Information and Message Confidentiality, Information and Message Integrity, Reliable Message Delivery, Non-repudiation are basic requirements are basic requirements. Authentication, Authorization, Secrecy Capacity, Intercept Probability, Complexity, Encryption and Latency are major parameters while Theoretic security, Security diversity methods, Artificial Noise aided security, Physical layer secret key generation and Security oriented beam forming are defined algorithms in this study. Application/Improvements: The proposed framework includes two major parts. First part is about enhanced Network Standards for the Security of System while second part illustrates architecture of the proposed framework. 

Keywords: Algorithms, Financial System, Framework, Network Standards, Security


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