Security and privacy issues of modern banking services in Iranian banks
In this paper, presentation of the current Methods of Modern Baking Services such as, on line banking services, services through the ATM and selling by the POS machines, in Iranian banks will be considered and the impediments in presenting of such modern services will also be checked. Mainly, security and privacy domains in inter and intra banking transactions will be examined, and security issues which the new banking systems are facing with them will also be described. Moreover, it will be shown, through simulation, how much of the personal information might be accessible by unauthorized companies and people in the current system.
Finally, for solving the mentioned problems, a banking system based on the collaboration between the banks is offered, and it will be proved that this approach can eliminate many of the problems facing the current system. In proposed methods, the technical and hardware limitations of current banking system such as lacking PKI infrastructure is considered and it is tried to present a solution which would be compatible with the currently available hardware such as POS and ATM.Here, the proposed solution is based on the short time passwords. which from the author’s point of view, is one of the best technology available, also it is tried to design a system in a way to be intrinsically secure and the security of system does not depends on the users behavior regarding security issues consideration as much as possible.
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