Effectiveness of Atm and Bank Security: Three Factor Authentications With Systemetic Review

Abstract

Security is one of the key aspects in despite of time, location and domain. Providing a better security is an essential obligation to all sectors (state and private) and workers. Rendering better security is not only difficult but also fairly impossible due to growth of new technologies and constantly growing Information Technology domain. Rapid Improvement of banking sector provides many acceptable ways of managing the accounts, information and activities. This advancement has been a main driving force to the account activities with the help of Automatic Teller Machine (ATM). With the increase number of ATM usage among the public, hackers also use the technological growth to hack the data / information and apply the fraud actions. The said vulnerabilities have been increasing in a gradual manner and also ATM fraud has spread and become nightmare all around the world. This paper elaborates to mitigate the possible frauds can be happened at the ATM cubical with the hybrid multi-layered security concept. Here, previous studies were reviewed and compared in order to support to develop a system with the less loopholes. A three-layered architecture including PIN, OTP or finger print and pattern lock has been used in this system to mitigate the frauds. 400 students were selected to test the system and 384 students roughly 96% of students have successfully entered their pin number at the first attempt, in the second layer 95% of the students out of 384 students were succeeded and the third layer 99% of the students out of 363 students were success in drawing the patterns. The overall result of this evaluation process shows that, the suggested security tiers can be applicable since the accuracy in performance is better and accepted by the sample selected.