HI6008 Assignment 2 Requirements All HI6008 Students enroll in the 2018 need to follow below Assignment structure: Word count: 1500 to 2000 words 1. Introduction 2. Project Objective 3. Project Scope...

Cyber security for online banking in Australia
Online Banking Security
Online Banking Security
Cyber security for online banking in Australia
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Student Name
University Name
Unit Name
Unit Code
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Contents
Introduction    2
Project Objective    2
Project Scope    3
Literature Review    3
Research Questions/Hypothesis    5
Research Hypothesis    5
Research questions:    6
Research Design and Methodology    6
1.    Research Methods    6
Qualitative research    7
Reliability and Validity    8
Sampling    8
Sample size    8
Data Collection Methods    8
Variable Specifications    8
Quantitative research    8
Research Instrument    9
Quantitative Data Analysis Process    9
Sampling    9
Sample size    9
Interviewing and Questionnaire Design    9
Reliability and Validity of Data    9
Schedule (Research Plan)    10
Ethical Considerations    11
Conclusion    11
References    13
Introduction
There are intrinsic security issues in the terms of privacy, integrity andconfidentiality. The chiefinfluence of such problems is particularly in banking industry, because they have augmented online banking facilities to decrease costs and make available better services as well as banking facilities for online banking customers. However, bank customers have not chosen online banking, mainly because they have been linked to any form of online banking offered by their existing banks. Therefore, this study examines the Australian Bank's online banking security system by creating a proposed online banking security checklist that benefits existing and potential online banking customers as a guide to online banking security. Better online banking safety information, two-factor verification and powerful encryption usage are few sample suggestions. Furthermore, the study can be prolonged to additional in-depth details, covering interviews along with audits from the customer viewpoint, formatand designof online banking websites, together with mobile banking security.
Project Objective
This project aims to achieve the following objectives:
· Understand how Australian banks achieve online security
· Determine the role of online security strategies in ensuring bank security.
· What challenges does Australian banks face?
· Distinguish between the performance of companies using open data and the performance of business units using asymmetric information(Cadé and Blanchet, 2015).
Project Scope
The project will examine the Australian bank's online banking security system by making a proposed online banking safety checklist that will benefit potentialand existingonline banking customers as a guide to the online banking security. The main objective of the project is to investigate the security of the Australian banking online banking system by using a comparative assessment method in creating the proposed online banking safety checklist. The list may then be utilized to assess its online banking security(Davinson and Sillence, 2014).
Literature Review
With the introduction of Internet technology, Internet has turn into an important part of almost all businesses. One of the utmost important expansions in this regard is banking industry. The Internet has the ability to integrate as well as transform the traditional businesses into an e-commerce (e-commerce) model, providing alternatives to banking and facilitating its online banking customers. In fact, most banks in the world adjust their business strategies by providing Internet banking systems to their online banking customers to gain competitive advantage, reduce operating costs and improve performance. As a result, online banking clients have the choice to access their bank accounts,then trade anywhere, anytime. Though, Internet banking systems have linked information security risksand threatsthat can be evaluated as high, medium, andlow. The securityand privacyof the Internet banking transactions as well as the privacy of the personal information are most concerned issues for banking and Internet banking customers(Granova and Eloff, 2004). Adware, keyloggers, spyware, phishing, malware, virusesand Trojan horsesaremost communal Internet Bankingsafetyrisksandthreats. In addition, there are few additional online banking security risksand threatsthat affect banks and online banking clients. These comprise online banking customers and bank security awareness, online banking customer online behaviour, threats (including authorizationandauthentication), exposure to novel potential threats, the online banking customers' believe in Internet banking systems, mobile banking safety issues, only use single-factor authentication to prevent man-in-the-middle attacks as well as browser attacks, identity or/and information theft from the social networking sites, healthcare along with government portals(Gupta, 2017). These factors may affect the traditional baking customers to turn to online banking. Criminals know it's hard to go beyond the bank's advanced security systems, so they usually focus on tricking customers into revealing their own confidential information. Banks can avoid becoming victims of online currency theft or identity theft fraud by protecting customer information and protecting online banking equipment. Online banking has become one of the fastest and easiest ways to do banking. The threat of cybersecurity attacks poses enormous challenges for the Internet banking and e-commerce (e-commerce) industries. Today, in all aspects of our lives, we are using information technology (IT) to make our lives more comfortable. The banking industry is based entirely on consumer...