Fraud Prevention
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In today’s world net banking is providing a better and faster way to carry
out business. In the real world, everyone is looking for fast and secure
business, which in these days is provided by e-banking or the NetBanking facility. Banks enjoy the profits of providing the option of online
banking because they are saving operational costs, but net banking is
not very much secure. Market researches have recognized that most of
the bank frauds have occurred in online banking. Every Financial and
Banking sector is trying to create a secure business platform. This
process provides the solution for debit or credit card fraud and net
banking fraud.

Banks and Customers are losing huge sum of money because of the
fraud transactions. Hackers obtain personal data for making the fraud.
Fraud increases the customer dissatisfaction and ultimately bank losses
business.
Fraud Prevention
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This system provides extra layers of security to net banking users.
It wills assist all the Business who has involved in Net banking.
Minimize the online Banking fraud & secure the net banking.
Minimize the Bank’s revenue losses.
As per survey every year Banks losses approx 23% revenue from there profit,
due to online fraud.
Instant Confirmation of the net banking transactions to Customers via SMS.
It can be implemented on current systems; no other setups will be required.
Bank is money factory where money is move on a circular path, so everyone will
be benefited.
It will provide - Customer Trust, Bank Gain, Company business.
Fraud Prevention
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Benefits of Customers, Bank and Company
Customers Benefits:
 Instant Confirmation of Transactions
 Increase the Customer satisfactions
 Increase the Customer trust
 Increase the Customer confidences
 Secure about his money transactions
 Get extra layer of security of his deposits.
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Banks Benefits :
 Build Customers Trust
 Minimize the number of Fraudulent complains.
 Prevent loss of Money.
 Provide extra layer of Security to Customers
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Company Benefits:
 Once customer has satisfied then business will grow & go efficiently.
 Once customer has trust, business will be increased by 25 times, (it based
on the theory of 5 people by 5 people).
 Once customer gained confidence then others classified scope of work
will be executed.
 Better solutions for Banking and Financial sectors.
Instant Confirmation of Transactions:
When online Banking will initiate (for debit card, credit card or Net Banking), then for
each successful or failure transactions account holder will receive notification SMS.
When Transaction became successful after one or more try & it has crossed
specified limit then customer will receive the confirmations call from tale caller.
Net Banking customer will get different option for instant SMS confirmation of the
transaction on his mobile.
Customers have options for only current transactions confirmations or for every
transactions confirmations through SMS
For each confirmation of transactions customer cell number will be saved with
personal data. For every hit of customers account , customer will receive warning
SMS on his mobile.
Customer will get different options for secure net banking :



NO SMS
SMS FOR THIS TRANSACTION
SMS FOR EVERY TRANSACTION
If customer will select options ‘1’

Nothings will be happened, continue further
Fraud Prevention
Fraud Prevention
 SMS FOR THIS TRANSACTION
If customer will select options ‘2’.
 He will receive SMS only for his current transactions.
 No mobile number will be saved.
 For every transactions he will get all options “For SMS
confirmations.”
SMS FOR EVERY TRANSACTION
If, customer will select option ‘3’.
 He will receive the SMS for each success or failure transactions.
 Customer’s mobile number will be saved with his personal
information.
 Customer’s mobile number will be deleted or updated only after
confirming the last transactions date or amount.
Fraud Prevention

SMS FOR EVERY TRANSACTION
After choosing the options 3 when customer has logged second time on net
banking, customer will receive the other option


TELE CHECK FOR TRANSACTIONS.
UPDATE or DELETE MOBILE NUMBER
If customer selects option 1,
Please Provide your registered mobile number
For each transaction customer should provide his register mobile number. Customers
mobile number will be checked & verified. After successful verification transaction will
be completed and a SMS will be triggered for good transactions on customers mobile.
Otherwise Transactions will be declined AND customer will receives a WARNING SMS.
This checks provide extra layer of Security on the systems.
It will prevent the fraudulent and trigger a SMS on account holder mobile number.
If transaction amount is more than a specified amount then customer will receives the
confirmation call from Bank.
Fraud Prevention
After first time logging on net banking, customer will receive the other option
 TELE CHECK FOR TRANSACTIONS
UPDATE or DELETE MOBILE NUMBER
If customer selects option 2,
Customers can delete or update his mobile number from his personal records after verifications of Last
transactions date or amount as confirmation. Otherwise Transactions will be declined and SMS will be
triggered..
Last Transaction Date
OR
Amount
After successful confirmation it will restart from the beginning
 NO SMS
SMS FOR THIS TRANSACTION
 SMS FOR EVERY TRANSACTION
And so on…. Continue to Prevent Fraud Transactions and
Provide Instant Confirmation of Transactions…..
Ranjan K. Lall