VTAIM: Volatile Transaction Authentication Insurance Method for Cyber Security Risk Insurance of Banking Services

Almatari, Osamah; Wang, Xiaomin; Zhang, Wenfang; Khan, Muhammad Khurram

doi:10.21203/rs.3.rs-2413299/v1

Cited by 3 publications

(1 citation statement)

References 29 publications

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“…This achieves great exactness in fraud spotting, improving Internet finance's efficiency. Almatari et al (2023) aimed to explore a critical segments-based signature verification method for mobile transactions. The study analyzed signature verification as a crucial task to perform in mobile banking systems.…”

Section: Literature Reviewmentioning

confidence: 99%

An introduction of transaction session‐induced security scheme using blockchain technology: Understanding the features of Internet of Things–based financial security systems

Wen,

Han

2024

Manage Decis Econ

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Internet of Things (IoT)–based financial systems leverage the capabilities of blockchain and artificial intelligence (AI) to enable seamless transactions and data exchange between devices. IoT‐based financial systems involve interconnected devices and services, such as payment terminals, wearables, and smart appliances, which collect, transmit, and process sensitive financial information. The study explores security methods incorporated in the financial systems designed using IoT and blockchain technologies to improve the background features. The study data were gathered from Complaint Data from the Consumer Financial Protection Bureau 2018–2022, and data‐based analysis is used in this study for detecting illegitimate interrupted transactions. Propensity Score Matching (PSM) is used for the robustness and endogeneity test; descriptive statistics is utilized in this study. Financial security systems are introduced to reduce the forging and breaching of intruders amid transactions. This study offers a novel contribution to the field of blockchain technology by furnishing a comprehensive analysis of the features of IoT‐based financial security systems from the perspective of the transaction, broadening the understanding of the feature focusing on financial security, and providing practical recommendations to address the features of IoT‐based financial security systems in blockchain technology. The study highlights how IoT devices can securely record and verify financial transactions by leveraging the blockchain's distributed ledger, preventing tampering or unauthorized access. The results of the study identify that the TS3 program relies on the transaction gaps between financial sessions, security requests between successive transactions, and sessions saved depending on the time delay. The study finds that sessions were analyzed for violations and fraud using information stored on the blockchain. The study suggests the design and building of devices and sensors in an IoT in financial security systems. Transparency should contribute to setting data privacy and safety problems in financial security systems.

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Section: Literature Reviewmentioning

confidence: 99%

An introduction of transaction session‐induced security scheme using blockchain technology: Understanding the features of Internet of Things–based financial security systems

Wen,

Han

2024

Manage Decis Econ

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RONSI: a framework for calculating return on network security investment

Barik,

Misra,

Fernandez-Sanz

et al. 2023

Telecommun Syst

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This competitive environment is rapidly driving technological modernization. Sophisticated cyber security attacks are expanding exponentially, inflicting reputation damage and financial and economic loss. Since security investments may take time to generate revenues, organizations need more time to convince top management to support them. Even though several ROSI techniques have been put out, they still need to address network-related infrastructure. By addressing gaps in existing techniques, this study delivers a comprehensive framework for calculating Return on Network Security Investment (RONSI). The proposed framework uses a statistical prediction model based on Bayes’ theorem to calculate the RONSI. It is validated by Common Vulnerability Security Systems (CVSS) datasets and compared to existing studies. The results demonstrate that the annual loss is reduced to 75% with the proposed RONSI model after implementing a security strategy, and the proposed model is compared with existing studies. An organization can effectively justify investments in network-related infrastructure while enhancing its credibility and dependability in the cutthroat marketplace.

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A Comprehensive Cybersecurity Framework for Present and Future Global Information Technology Organizations

Shafik

2023

Advances in Information Security, Privacy, and Ethics

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This chapter examines how education, technology, national and international regulations contribute to a comprehensive cybersecurity framework for present and future global IT companies. IT-driven enterprises may utilize the following security recommendations. Businesses who seek to examine their external and internal security with security upload and establish settings for success regardless of location must solve these issues. To produce more effective legislation, education efforts, and technologies that are resistant to cyberattacks, this work explores fundamental research gaps in cybersecurity and demonstrates how cybersecurity may be divided into these three fundamental categories and integrated to tackle problems such as the creation of training environments for authentic cybersecurity situations. It will explain links between technology and certification and discuss legislative standards and instructional frameworks for merging criteria for system accreditation and cybersecurity. The study finishes with wireless network security recommendations.

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VTAIM: Volatile Transaction Authentication Insurance Method for Cyber Security Risk Insurance of Banking Services

Cited by 3 publications

References 29 publications

An introduction of transaction session‐induced security scheme using blockchain technology: Understanding the features of Internet of Things–based financial security systems

An introduction of transaction session‐induced security scheme using blockchain technology: Understanding the features of Internet of Things–based financial security systems

RONSI: a framework for calculating return on network security investment

A Comprehensive Cybersecurity Framework for Present and Future Global Information Technology Organizations

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