Fraud Protection for Online Banking A User Centered Approach on Detecting Typical Double Dealings Due to Social Engineering and Inobservance Whilst Operating with Personal Login Credentials
Online banking is becoming increasingly popular. Immense damage is done, however, by illegal actions also rising, such as unauthorized access to online banking accounts. A project funded by the German Federal Ministry of Education and Research explores in a holistic approach, how fraud protection for online banking can be improved. The focus is inter alia the user end fraud detection and protection guiding, particularly for private customers, in online banking and especially in the non technical area of Social Engineering. Thereby the study examines the perceptibility of three different cases of fraudulent assaults, which showed that users know little about them. The comparison of two different two factor methods of online banking authentication and the analysis of verbal informations via the method of thinking aloud during the second experiment give initial hints which aspects should be changed in order to increase secure user behavior. Whichever, this is quite necessary regarding the high ratio of falling for assaults in the second experiment.
HCI