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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 from around 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 frauds can be prevented and security can be instated.
Keywords-Internet, Transaction, Online, Prevention & Security.
*, Assistant Professor, VIT Business School, VIT University, Vellore.(email@example.com) **, MBA Student, VIT Business School, VIT University, Vellore (firstname.lastname@example.org).
IntroductionToday we are into the world of internet revolution, Where each and every can be done use of technology . Take the example of washing clothes to the reading material we will find the use of technology in every field. So internet which is also we call it as a multipurpose machine which can do many works at a single time. So Today’s new trend of online purchasing is in big trend 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 be worked on to increase the customer satisfaction and trying to get them to use internet to do transactions. • The research can be used by existing or new websites to find out the reason why customers do 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 LiteratureA 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 concept of the fund transfer in a simple language with a practical example. It discusses the fraud that happened and how did they track it down. This article projects some graphs regarding how the normal transactions and the fraudulent transactions occur. It also suggest some of the security measures to prevent EFT frauds such as supervising the contracted staffs, blocking of exemployee’s id, monitoring the event logs, being vigilant during the holiday period etc. its main focus is on the EFT and the frauds that happen in the banks during such transfers. This gives a deep insight about the security issues with the outsourcing that are being done.
Electronic funds transfer fraud By Ian Hendarson (2001) discussed that despite the unprecedented growth of Internet based E Commerce in recent years, the rate of penetration in developing countries 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 have caught the attention of the business and policy makers but not the trust issues. This is largely due to lack of understanding of the notion of online trust and the challenges in fostering it. We develop a framework for building online trust and discuss the manner in which online marketplace fosters trust. 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 easy to 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 an Internet banking environment can result in financial loss and reputation damage through fraud, disclosure of customer information, corruption of data, or unenforceable agreements. There are a variety 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 financial institution’s risk assessment process. Online transaction logs By Dr Gavin R Davis (2007) discussed that Governments and other policy makers are concerned with the gap in home Internet usage between people from metropolitan and rural areas. A survey conducted in Central Queensland, Australia examined differences in home Internet usage patterns between young and old, male and female, people in urban and rural areas, married and unmarried, well-educated and less educated, rich and poor, and employed and unemployed and found significant differences. Protecting Information Online: Safeguarding Common Interest Transactions and 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, Telephone numbers Credit card information and Social Security numbers. Understand the site’s privacy
policies and practices, as online shopping means that the seller will be collecting your personal information. Print out order forms, order numbers and policies –keep a record of your transaction. So Internet which is very important part of everyone’s life is to be maintained properly considering the security concerns. As the user take first and foremost thing come to his mind is security, accuracy, speed,etc and then he uses the service.
Research Methodology The survey was done among people who are using internet in VIT University, Vellore, Tamilnadu, India. Structured Questionnaire method was followed for data collection. The sample size is 300. The questionnaires were circulated among the respondents and were by the respondents. Various Statistical Tools have been used to determine the customers reaction on online transaction. The Statistical Tools used for data ananlysis are Chi-Square Test, Correlation, Anova Test, Kruskal Wallis Test(H-Test) & Discriminant Analysis.
Data Analysis & Interpretation
Chi-Square Test Association Between Doing Online Transaction and Recommendation made are not satisfied.
H0 : There is no significant difference between two variable way of doing online Transaction and recommendation made.
Case Proce ssing Summary Cases Missing Percent 0 .0%
N hdot * ar
Valid Percent 300 100.0%
Total Percent 300 100.0%
Symme tric M e asur e s Value .611 .353 .521 300 Approx. Sig. .000 .000 .000
Nominal by Nominal
Phi Cramer's V Contingency Coefficient
N of Valid Cases a. Not assuming the null hypothesis.
b. Using the asymptotic standard error assuming the null hypothesis.
InferenceSince the pearson chisquare significant value is 0, hence there is a significant association between way of doing online transaction and recommendation made. ContingencySince the contingency coefficient is between 0 to 0.5 adjacent value (0.521) it means that there exist higher correlation between the dependent and independent variable .so there exist a higher correlation between Purpose of help in online transaction(dependent) and recommendation for online transaction(independent). LambdaThe Lambda assymetric value we infer (0.195) association between dependent and independent variables is not significant as the value is closer to 0 than 1.The LAMBDA value tells us there is a 19.5% reduction in predicting the help in online transaction when we know the recommendation for online transaction. The authors also found that there is significant difference between doing online transaction and Recommendation made. The study also reveals that there is a significant difference between Doing Online Transaction and Recommendation made.
Variance between Occupation of the respondent and use of credit card on web.
H0- There is no significant difference between Occupation and use of credit card on web.
De scriptiv es 95% Confidence Interval for Mean Lower Upper Bound Bound 2.26 2.52 1.74 2.88 1.63 3.17 2.26 2.51
N ccow occup s t nt Total 277 13 10 300
Mean 2.39 2.31 2.40 2.39
Std. Deviation 1.11 .95 1.07 1.10
Std. Error 6.69E-02 .26 .34 6.36E-02
Minimum 1 1 1 1
Maximum 5 4 4 5
ANOVA Sum of Squares ccow Between Groups Within Groups Total 8.574E-02 363.061 363.147 df 2 297 299 Mean Square 4.287E-02 1.222 F .035 Sig. .966
InferenceF from the above table significant value is 0.966 which is more than the hypothetical value 0.05, it infer that there is a no significant difference between Occupation and use of
credit card on web
The authors also found that there is no significant difference between Occupation of the respondent and use of credit card on web
Krusk Wallis Test (H-Test)
H0: Irrespective of age, the use of World wide web is same.
Ran ks age 17-21 22-26 27-30 31-35 over 35 T otal N 45 236 11 2 6 300 Mean Rank 156.19 149.58 138.32 188.75 153.67
Te s t
a,b St a t is t ic s
Ch i- Sq u a r e df Asymp . Sig . a. b. Kr u ska l T e st
uw w w 1 .0 6 0 4 .9 0 1 Wa llis
G r o u p in g Va r ia b le : a g e
InferenceThe significance value is coming to be 0.901 which is more than 0.050. Therefore null hypothesis is accepted. Hence there is equal impact between age and purpose of use of Internet. Thus irrespective of age, the use of world wide web are same. Hence there is a significant difference between age and use of World Wide Web.
The authors also found that there is a significant difference between age and use of world wide web.
We have independent variables use that is world wide web and occupation , with one being a better predictor. From the standardized canonical discriminate function1 coefficient value the larger value will have the better predicting power, thus in this case Occupation with value 0.966 is better predictor than use of world wide web with value 0.280. Low value signifies high significance as in this output we are getting high value of .887 This value is between 0 & 1 a high value lower discriminating power of the model.
Y=(-3.661) + 0.409(use of world wide web) + 2.489(Occupation) Where Y defines the profitability of online transaction business.
Conclusion: This study reveals that the websites need to make the registration process shorter and need to make people aware as how their personal information will be used or even give a confidentiality information as to that the websites won’t use the personal information given by the users. Strict laws should implemented by the government to make the spamming illegal.The rating of how secure a website is helps to attract new users thus it should be highlighted on the website so as to make people aware of the security strength of the website.
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