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Report on Internet Transaction

Report on Internet Transaction

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Published by rahul9288
Research on Internet Transaction
Research on Internet Transaction

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Published by: rahul9288 on Jun 26, 2009
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A n Empirical Study on Online TransactionMrs.A.Vasumathi* & Mr.RahulKumar Rathi**
India is in a new era of computerisation of internet banking system and online systems for other cash related transactions, with the increase in the computerisation it might give rise to computer related frauds and security problems. In these articles we present the summary of the journals fromaround the world that discusses on this matter. In this research it is related to the usage of computer related transactions that are being done and trying to find a way in which these fraudscan be prevented and security can be instated.
-Internet, Transaction, Online, Prevention & Security. _______________________________________________________________________________ 
*, Assistant Professor, VIT Business School, VIT University, Vellore.(avasumathi@vit.ac.in)**, MBA Student, VIT Business School, VIT University, Vellore (pintu_276@sify.com).
Today we are into the world of internet revolution, Where each and every can bedone use of technology . Take the example of washing clothes to the reading material we will findthe use of technology in every field. So internet which is also we call it as a multipurpose machinewhich can do many works at a single time. So Today’s new trend of online purchasing is in bigtrend but people hesitate to do the reason is sometime lack of security and lack of user friendliness.
Objective Of Research-
The research can be used by any of the internet security providers as key points that can beworked on to increase the customer satisfaction and trying to get them to use internet to dotransactions.
The research can be used by existing or new websites to find out the reason why customersdo not prefer doing transactions online.
It can be used by banks to increase awareness amongst its clients to popularize internet for doing transactions.
Review of Literature-
A framework for Building On-line Trust for Business to Business E Commerce By B.Mahadevan& N.S.Venkatesh (1995) discussed about the security problems . It also explains the whole conceptof the fund transfer in a simple language with a practical example. It discusses the fraud thathappened and how did they track it down. This article projects some graphs regarding how thenormal transactions and the fraudulent transactions occur. It also suggest some of the securitymeasures to prevent EFT frauds such as supervising the contracted staffs, blocking of ex-employee’s id, monitoring the event logs, being vigilant during the holiday period etc. its mainfocus is on the EFT and the frauds that happen in the banks during such transfers. This gives adeep insight about the security issues with the outsourcing that are being done.
Electronic funds transfer fraud ByIan Hendarson (2001) discussed that despite the unprecedentedgrowth of Internet based E Commerce in recent years, the rate of penetration in developingcountries such as India is lower. Among several factors responsible for this, the poor state of infrastructure and low levels of online trust stand out significantly. Infrastructure issues havecaught the attention of the business and policy makers but not the trust issues. This is largely dueto lack of understanding of the notion of online trust and the challenges in fostering it. We developa framework for building online trust and discuss the manner in which online marketplace fosterstrust.Internet-based business opportunities: buyers beware of scams By Mohsen Attaran (1999)discussed that Most consumer-facing online applications such as banking and e-commerce rely primarily on single- factor authentication schemes to authenticate users. Such schemes, while easyto use, suffer from easily exploitable security vulnerabilities that cost business billions of dollars per year. The risks of doing business with unauthorized or incorrectly identified persons in anInternet banking environment can result in financial loss and reputation damage through fraud,disclosure of customer information, corruption of data, or unenforceable agreements. There are avariety of technologies and methodologies financial institutions can use to authenticate customers.The level of risk protection afforded by each of these techniques varies. The selection and use of authentication technologies and methods should depend upon the results of the financialinstitution’s risk assessment process.
Online transaction logs By Dr Gavin R Davis
(2007) discussed that Governments andother policy makers are concerned with the gap in home Internet usage between people frommetropolitan and rural areas. A survey conducted in Central Queensland, Australia examineddifferences in home Internet usage patterns between young and old, male and female, people inurban and rural areas, married and unmarried, well-educated and less educated, rich and poor, andemployed and unemployed and found significant differences.
Protecting Information Online: Safeguarding Common Interest Transactionsand Communications By New York State Consumer Protection Board (2009)discussed that
Do not give away your personal information on sites that are not secure: Names, including ,Dates and places of birth Addresses, including e-mail addresses, Telephonenumbers Credit card information and Social Security numbers.
Understand the site’s privacy

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