E-Banking Risks in Botswana
Table of Contents INTRODUCTION 1 RISKS POLICIES FOR THE FOUR TOP BANKS IN BOTSWANA 1 SECURITY RISK 2 OPERATIONAL RISK 2 CONTROL AND COUNTER MEASURES 4 System Architecture and design 4 Conclusion 5 BIBLOGRAPHY 6
INTRODUCTION
E-banking has become a common trend here in our country. It has made life easier for the life of Batswana, they can easily access their checking’s, savings credit card, mortgage and loan accounts with just a few clicks, anytime anywhere. They can transfer funds, pay bills and view transaction history just with a few clicks. They do not have to leave their home to do their banking. They can access their accounts in a matter of seconds. They can receive monthly statements electronically instead of by mail and save a lot of paper work in the process. They can view their statements in order of date and are likely to find the information you are looking for quicker than flipping through pages of older paper statements. Their many fundamental benefits e-banking has brought to Batswana but unfortunately, technology is never 100 percent reliable. Online banking can compromise your security and privacy. Hackers can obtain your account number or Social Security number and make unauthorized transactions on your behalf. Someone may get your security details if you didn't close the browser window or if the password memorization feature is enabled for your bank's website.
RISKS POLICIES FOR THE FOUR TOP BANKS IN BOTSWANA
Without a doubt, the technological growth has considerably affected the profile of banks risks more generally. Some of the risks are increased, while others on the contrary are possible to be decreased. FNB as technology leader out of the four banks makes banking security as its own priority, so they take all reasonable steps to protect their systems against intrusion or compromise. In addition to User Name/ID and Password, they use state-of-the-art encryption to ensure the security of the online transactions and
INTRODUCTION
E-banking has become a common trend here in our country. It has made life easier for the life of Batswana, they can easily access their checking’s, savings credit card, mortgage and loan accounts with just a few clicks, anytime anywhere. They can transfer funds, pay bills and view transaction history just with a few clicks. They do not have to leave their home to do their banking. They can access their accounts in a matter of seconds. They can receive monthly statements electronically instead of by mail and save a lot of paper work in the process. They can view their statements in order of date and are likely to find the information you are looking for quicker than flipping through pages of older paper statements. Their many fundamental benefits e-banking has brought to Batswana but unfortunately, technology is never 100 percent reliable. Online banking can compromise your security and privacy. Hackers can obtain your account number or Social Security number and make unauthorized transactions on your behalf. Someone may get your security details if you didn't close the browser window or if the password memorization feature is enabled for your bank's website.
RISKS POLICIES FOR THE FOUR TOP BANKS IN BOTSWANA
Without a doubt, the technological growth has considerably affected the profile of banks risks more generally. Some of the risks are increased, while others on the contrary are possible to be decreased. FNB as technology leader out of the four banks makes banking security as its own priority, so they take all reasonable steps to protect their systems against intrusion or compromise. In addition to User Name/ID and Password, they use state-of-the-art encryption to ensure the security of the online transactions and