Transaction Security And Risk Management On Internet Banking

Internet Banking is unrestricted by time and region. Customers can arrange individual financial accounts through the Internet Internet Banking system. Though the Internet BK is convenient, it is also risky.The Ministry of Finance of the Taiwanese government has adopted a policy that fosters the development of Internet banking. However, understanding security technologies demands in depth expert knowledge, and goes beyond the capacity of general citizens. The author suggests that the first priority is given to marketing efforts to motivate customers' participation. Second, the banking industry needs to integrate existing services channels to win consumers' loyalty. Third, trusted systems for members' certification must be installed; trusted certification systems would help to remove fear and doubt from customer's minds. Finally, risk insurance against hackers' attacks or against other loss from security flaws must be sincerely considered as new business opportunities of the insurance industry and be encouraged by government.