Abstract
In the current scenario, the crime rate has tremendously increased with respect to the Automatic Teller Machine (ATM). During the last few years, criminals are becoming more sophisticated and paid more attention to ATMs. The majority of ATMs in India are working on a single authentication technique. The attacks, such as skimming, shimming, card cloning, card swapping, shoulder surfing, etc. works due to the use of minimal authentication in ATMs. So, the concern about the security of ATMs is reached to its peak level. Nowadays, banks have moved towards the two-tier authentication level. Recently in India, some banks have adopted the One Time Password (OTP) mechanism along with a UID number to perform the transaction in ATMs. In such a case, dependency on the cellular network for OTP is also a significant concern. To overcome these types of issues researcher proposed a two-tier authentication mechanism. The paper addresses the recent problems and their solution with the help of a two-way authentication method. To resolve the network issue, the researcher also proposed a novel technique, i.e., Security Question-based verification mechanism.
Highlights
In this digital world, information and computer technology has built up its approach in almost every aspect of life
Okpala (2017) have proposed a security technique by using a Three-Tier Authentication mechanism for Automatic Teller Machine (ATM). They use three layers of authentication method; firstly, the user password followed by the biometric identification, and the user gets a One Time Password (OTP) on their mobile number
Maximum numbers of ATM having no security guards to care of rules provided by the banks or to instruct the users
Summary
Information and computer technology has built up its approach in almost every aspect of life. The prime user of online transactions and the internet are banking and insurance sectors as well as financial organizations They use this technology for making payments, transferring cash, and some additional services related to remittance. News headlines always frightening us about the fraud cases related to cash withdrawals, debit/credit card scams, information breach, and data theft, etc. These have a noticeable relation with the electronic system as well as the banking system. The use of debit cards is dominant/ruling in almost everywhere This technology enhanced the dispensation of cash via Automatic Teller Machines (ATMs) in order to avoid bank cash counter withdrawals. The paper is concluded with the conclusion and future work
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