Secure confirmation of sensitive transaction data in modern Internet banking services

Abstract

In recent years attacks on Internet banking services have evolved from rather simple credential stealing attacks to advanced content-manipulation attacks by means of malicious software seeded on the client end-devices. This paper presents the risk mitigation approach of secure beneficiary confirmation on a trusted device combined with multi-level whitelist management to selectively authenticate transactions. Furthermore, two real-world implementations offering unique properties with regards to convenience and mobility while maintaining the highest level of security are described, along with practical results gained from deployment to a large user population.