1.0 Introduction The internet has played a major roll in the development of business and domestic industries. It is an everyday element in each and everyone’s lives. Through chat, surfing, shopping and banking. But society has now been confronted with the issue of security, primarily security in relation to internet banking. As most people know internet banking is a service provided which enables banking to take place in the comfort of our homes. It has revolutionised the way banking is performed. It is well noted that security is a number one priority in carrying out these objectives, as internet banking deals with a lot of financial information which if in the case where the information may escape, great consequences may result. This issue targets most of today’s society as the majority engage in online transactions be it banking, chatting or shopping. The implementation of effective security measures provides users with peace of mind and a sense of trust in completing online transactions. To assist with this, the thorough education of users in the areas of security, risks and precautions in relation to the use of internet banking must be carried out to ensure that the most effective and safe procedure is being completed. The main target of online fraudsters is internet banking this issue will be discussed throughout the report. 2.0 Internet Banking 2.1 What is Internet Banking? 2.1.1 Internet banking is an everyday bank with a virtual nature which is available to customers 24 hours 7 days a week. Internet banking provides services that banks offer such has the transfer of money from two separate accounts, viewing of account balances and other transactions in the comfort of your home. Internet banking is provided by the majority of major banks in the form of a webpage which lists user’s accounts and provides a vast variety of options and actions to be carried out while being secure. All customers of major banks have t…
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