The ATM Security Framework for Nigerian Banks

The ATM Security Framework for Nigerian Banks

ABSTRACT

Automated teller machine (ATM) security is a current issue throughout the world. ATM users increase every time because it is more convenient to use rather than to go to a branch. So, many banks, including Commercial Bank of Nigeria, are trying to install ATM machines throughout the country to facilitate financial transactions. ATM machines are located in different areas which are suitable for customers to get the service anytime and anywhere. But this may cause various security problems. ATM threat can be divided into three major categories. Those are logical threats, physical threats,s and fraud commonly known as skimming. In this study, we tried to investigate these threats in the local context. Based on this we proposed an improved ATM security framework. Our preliminary survey indicated that banks do not use procedures to secure their ATM machines. The main objective of this study is, therefore, to design an improved framework that is used to secure ATM machines, and, any bank can use this framework to enhance its ATM security. To validate the framework MATLAB with specific scenarios that model common ATM tasks has been executed. The result shows that the MATLAB simulation on biometrics (voice and fingerprint) measure uniquely identifies the high level of security which is by far a stable and secure ATM system that of the current authentication system in practice.

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