Security model on mobile banking application: attack simulation and countermeasures

Kouraogo, Yacouba; Zkik, Karim; Idrissi, Noreddine El Janati El; Orhanou, Ghizlane

doi:10.1504/ijie.2017.087014

Cited by 4 publications

(2 citation statements)

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“…Beyond QR codes, the expansive functionalities of mobile banking apps, such as easy fund transfers, bill payments, and account management, have been pivotal in their widespread adoption. Kouraogo, et al (2017) highlighted the security concerns associated with mobile banking applications, emphasizing the need for robust countermeasures to protect user data and ensure secure transactions. In summary, the adoption of technology in mobile banking applications reflects the industry's commitment to offering users a seamless, secure, and efficient banking experience, catering to a wide range of financial needs.…”

Section: B Adoption Of Technology In Mobile Banking Applicationsmentioning

confidence: 99%

User Experience of Mobile Banking Application in Indonesia: New Technology of Banking

et al. 2024

Glob Bus Financ Rev

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Purpose: This research delves into the user experiences associated with ten mobile banking applications in Indonesia. The study aims to highlight the technological innovations that drive user satisfaction, pinpoint areas requiring enhancement, and offer foresight into the evolving landscape of mobile banking in the region. Design/methodology/approach: Utilizing the KH-coder software, the data underwent rigorous quantitative text mining. Techniques such as frequency analysis, co-occurrence network analysis, and topic modeling were employed to discern pivotal themes within mobile banking applications. Further, statistical analyses rooted in co-occurrence words were conducted. Findings: The study scrutinized 5,720 online reviews, highlighting the pivotal role of online feedback in influencing consumer behavior, from product choices to app installations. The overall average rating was 3.76 out of 5, indicating a moderate level of user satisfaction. Reviews often raised concerns, with terms such as 'bug,' 'slow,' 'issue,' and 'problem' being prevalent. Conversely, reviews with a positive tone frequently included words like 'transfer,' 'previous,' 'number,' 'easy,' 'friendly,' 'user,' and 'feature,' suggesting greater user satisfaction. Through statistical analysis, ten distinct factors were identified, encompassing 26 words derived from co-occurrence patterns. Research limitations/implications: The study is geographically centered on Indonesia, potentially limiting its applicability to other regions. Relying on user reviews may not encompass the entirety of user experiences, given the potential bias towards extreme sentiments. The findings highlight the importance of technological advancements and user feedback in mobile banking's future, urging stakeholders to address areas of concern identified by users to enhance satisfaction and engagement. Originality/value: By harnessing a multi-dimensional analytical paradigm, encompassing term frequency, co-occurrence analysis, Latent Dirichlet Allocation (LDA), Exploratory Factor Analysis, and regression analysis, this study crafts a holistic blueprint for enhancing digital banking experiences, offering invaluable insights for stakeholders in the mobile banking domain.

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Section: B Adoption Of Technology In Mobile Banking Applicationsmentioning

confidence: 99%

User Experience of Mobile Banking Application in Indonesia: New Technology of Banking

et al. 2024

Glob Bus Financ Rev

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“…Authors in [21] have researched Android banking application attacks and suggested defences against them. They examined the characteristics of various attack types, including keylogging and phishing, and they suggested techniques for identifying and counteracting them.…”

Section: Related Workmentioning

confidence: 99%

MoBShield: A Novel XML Approach for Securing Mobile Banking

Seraj,

Sadiq,

Kaiwartya

et al. 2024

CMC

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Mobile banking security has witnessed significant R&D attention from both financial institutions and academia. This is due to the growing number of mobile baking applications and their reachability and usefulness to society. However, these applications are also attractive prey for cybercriminals, who use a variety of malware to steal personal banking information. Related literature in mobile banking security requires many permissions that are not necessary for the application's intended security functionality. In this context, this paper presents a novel efficient permission identification approach for securing mobile banking (MoBShield) to detect and prevent malware. A permission-based dataset is generated for mobile banking malware detection that consists large number of malicious adware apps and benign apps to use as training datasets. The dataset is generated from 1650 malicious banking apps of the Canadian Institute of Cybersecurity, University of New Brunswick and benign apps from Google Play. A machine learning algorithm is used to determine whether a mobile banking application is malicious based on its permission requests. Further, an eXplainable machine learning (XML) approach is developed to improve trust by explaining the reasoning behind the algorithm's behaviour. Performance evaluation tests that the approach can effectively and practically identify mobile banking malware with high precision and reduced false positives. Specifically, the adapted artificial neural networks (ANN), convolutional neural networks (CNN) and XML approaches achieve a higher accuracy of 99.7% and the adapted deep neural networks (DNN) approach achieves 99.6% accuracy in comparison with the state-of-the-art approaches. These promising results position the proposed approach as a potential tool for real-world scenarios, offering a robust means of identifying and thwarting malware in mobile-based banking applications. Consequently, MoBShield has the potential to significantly enhance the security and trustworthiness of mobile banking platforms, mitigating the risks posed by cyber threats and ensuring a safer user experience.

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Securing Communication 2FA Using Post-Quantic Cryptosystem

Kouraogo

Orhanou

Hajji

2021

Research Anthology on Securing Mobile Technologies and Applications

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Many financial institutions interact with their customers via short message services (SMS), which is today one of the fastest and most powerful means of communicating information around the world. This information can sometimes be an access code such as the unique password (OTP) for two-factor authentication (2FA) or banking information and personal identities. All this data is confidential, and it is a major disadvantage to send them since an SMS service does not provide data encryption during network transmission and on mobile. Recently, OTPs via SMS have suffered from strong attacks that intercept messages. In order to avoid attacks and offer effective content security to 2FA credentials sent via SMS, the authors propose an SMS encryption mechanism using a post quantic cryptosystem quasi-cyclic MDPC and an electronic signature of the OTPs. Finally, this article performs an implementation and a security analysis of the proposal.

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Security model on mobile banking application: attack simulation and countermeasures

Cited by 4 publications

References 0 publications

User Experience of Mobile Banking Application in Indonesia: New Technology of Banking

User Experience of Mobile Banking Application in Indonesia: New Technology of Banking

MoBShield: A Novel XML Approach for Securing Mobile Banking

Securing Communication 2FA Using Post-Quantic Cryptosystem

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