Assignment update

Hi guys, again, this is my update for our group assignment.

Previous post I had mentioned briefly about degree of security for HSBC Internet Banking security device and also general description about internet banking system.

Here my latest update. Refer from assignment outline given by our instructor, Madam Saida:- 

General description of the organization

• Organization: HSBC Bank (M) Bhd
• Name of the selected system: Personal Internet Banking (PIB) & Business Internet Banking (BIB) 
• Vision: to enhanced online banking protection.
• Mission: to secure internet banking transaction. 
• Organization chart:-  

 

Competitive advantage of having the system

• Compete with other banks offered internet banking 

• How HSBC overcome this competition? Introduce security device for their internet banking users.

• Convince customer by using security device for online banking transaction is secure than other mode of online banking. 

IT Components of the selected system

• Hardware component to do internet banking: security device.
• Purpose: to obtain security code and identify user (by key-in pin number)
• Each user will have this device.

Problems of having the system

• Users cannot do online banking if they lost the security device.
• Some customers think it is quite fussy since too many security code need to be enter when doing online banking.

Possible recommendations to overcome this problem

• Educate customer the purpose of key-in security code for each transaction. 

Security threats and solutions
How HSBC protects you online

• Creating secure online sessions. When log in to Internet Banking users are said to be in a secure session. Users are in a secure session if the URL address begins with https:// and a padlock symbol appears at the top of the page as part of the address bar.
• Using encryption. Depending on browser setting, a pop-up window will appear to notify that users will be entering a secured page. HSBC use 128-bit SSL encryption, which is accepted as the industry standard.
• Using session timeouts. If users forget to log- off after banking online or computer remains inactive for a period of time during a session, HSBC systems will automatically log off.

Last but not least, my amended video has been published on youtube!!!

short video