A New Group Key Management Structure for Fraudulent Internet Banking Payments Detection

Abstract

Fraudulent payments detection in the banking system is an extremely important form of risk management as the industry loses close to one billion dollars annually. New techniques in detecting fraud are evolving and can be applied to many business fields. However; there is still no efficient detection mechanism able to identify fraudulent activity by employees. This paper presents a new Group Key Management (GKM) structure to facilitate internal fraudulent banking payments detection by dynamically combining an Individual Key (IK) and a Group Key (GK). The main objective of the proposed mechanism is to identify internal fraudulent users and trace their records amongst other group members.