Wednesday, September 14, 2011

Security of Internet Banking (Part 3) - Countermeasures to Reduce Risks in Internet Banking




These are some countermeasures I have identified to reduce the risk in Internet banking for each attacks.

· User Surveillance

o Having a security policy regarding token and password handling.

· Theft of token and handwritten notes

o Having a security policy regarding token and password handling.

o Giving passwords that are easy to remember still hard to guess such as combing dictionary word with symbols and numbers.

· Hidden code

o Operating System/browser patching

o Code installation blockers

o Anispyware software

o Antiphishing software (URL inspection)

o Firewall for blocking inbound and outbound connections to unauthorized ports

o Intrusion/anomaly detection

o Best practices for browser security (cookies, window pop-ups, java support, etc)

· Worms and bots

o Operating System/browser patching

o Code installation blockers

o Anispyware software

o Custom application secure coding

o Firewall for blocking inbound and outbound connections to unauthorized ports

o Intrusion/anomaly detection

o Best practices for browser security (cookies, window pop-ups, java support, etc)

· E-mails with malicious code

o E-mail policy

o Code installation blockers

o Attachment blocking

o HTML code blocking

o Antispam software

o Anispyware software

o Antiphishing software (URL inspection)

o Firewall for blocking inbound and outbound connections to unauthorized ports

o Intrusion/anomaly detection

· Smartcard analyzers

o Noise generators

o Power and time neutral code designing

· Smartcard reader manipulator

o Secure smartcard interface design and implementation


· Brute force attacks with PIN calculations

o Increasing number of digits (at least eight digits)

· Social engineering

o Increasing security awareness

o Simple URLs that are easy to remember

o Antiphishing software (URL inspection)

· Web page obfuscation

o Monitoring the domain name server (DNS)

o Prohibiting the IP addresses instead of URLs.

o Using predetermined list of valid URLs.

· Pharming

o Monitoring the server

o Patch management

o Intrusion/anomaly detection

o Firewall

· Active man in the middle attacks

o Using predetermined SSL certificates

o Mutual authentication and encryption through client-server SSL

· Session hijacking

o State management to prevent session ID specification in the message, session ID rotation and life cycle management

· Brute force attacks

o Monitoring the server

o Patch management

o Intrusion/anomaly detection

o Firewall

· Bank security policy violation

o Security policy implementation according to standards such as ISO 17799

· Website manipulation

o Monitoring the server

o Patch management

o Intrusion/anomaly detection

o Firewall

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