ABSTRACT
Almost in every field including banking and insurance security and privacy have become the essence. Many people prefer internet banking because of its convenience. The solution to the security issues require the use of cryptography in which data is being encrypted and converted to cipher text and then decrypted to original form on reaching the second party. It is an indispensable tool for secured communication between two parties in the presence of third party. This article attempts to introduce the various algorithms which can be successfully used to ensure the security in banks. These algorithms include Shift algorithm, Polyalphabetic Cipher, Affine Cipher, RSA, DSA etc.
Keywords: cryptology, banking, security
MATHEMATICAL CRYPTOLOGY IN BANKING SECTOR
Cryptography is an indispensable tool of techniques for the secured communication between two parties in the presence of third party. A cryptographic algorithm is a mathematical function for encryption or decryption where encryption is the process of translating plain text/ data into a random and meaningless (cipher text) data and decryption is the process of converting cipher text back into plain text. In most of the cases, two functions are involved, one for encryption and the other for decryption. It is basically about constructing and analyzing protocols which prevents public from reading the private messages. It is mostly based on mathematical theory and computer science practice .In the
Encryption is the conversion of electronic data into another form, called cipher text, which cannot be easily understood by anyone except authorized parties. The primary purpose of encryption is to protect the confidentiality of digital data stored on computer systems or transmitted via the Internet or other computer networks. Modern encryption algorithms play
Encryption technique is the translation of data into a secret code that will prevent hackers or identity thieves from being able to break or read the data that is sent across the network.
Encryption is a method of encoding a message or information before sending it, so unauthorized users can’t access it without permission and only the person who has authorised access to it can decode it. Encryption is used to keep things secure and keep things confidential within the organisation. For example let’s say you have a chat with a friend on Skype, when you’re sending a message to him, that message will display as random symbols until he receives it, which then decodes it and makes it so that only he can read it. This allows the communication to be secure and private, no one will be able to know what the message says.
Encryption is a process of converting Plain text into Cipher text. This un-readable message can be communicated over an unsecure network without the fear of loss of integrity and confidentiality. Encryption process is done using encryption algorithm.
Ensuring data security within your organization is crucial if you are to remain compliant against the increasing data security regulations, as well ensuring that you maintain a good relationship with your customers and prospects. Data security concerns the protection of data from accidental or intentional but unauthorized modification, destruction or disclosure through the use of physical security, administrative controls, logical controls, and other safeguards to limit accessibility. Protecting your customer information and ensuring full confidence in your data security measures will put you in good stead for protection against data loss and data security breaches. Data is the raw
The practice and study in securing communication between parties in presence of potential adversaries. A cryptographic algorithm or cipher is a mathematical function used in a plaintext in the encryption and decryption process. A cryptographic algorithm works in combination with a key (number, word, or phrase) to encrypt the plaintext. The same plaintext also encrypts to different cipher text with the use of different keys. The core of modern cryptography is the construction and analyzation of protocols of various aspects in information security such as data integrity and confidentiality, authentication, and non-repudiation.
Cryptography is the practice and study of techniques for secure communication in the presence of third parties. The art of protecting information by transforming it (encrypting it) into an unreadable format is called cipher text.
Security is one of the significant problems in the current technological world. Although there are many inherent confidential securities are provided to the developing and developed softwares, managing the risks determined by security breaches still remains a conundrum. The prime objective of this paper is to discuss the elemental security concepts and techniques which have to be applied during the each phase of software development cycle to build a secured code. Also, this paper confers about the strategies and metrics which can be used to determine on how the security threats are mitigated and managed and the best practices to acheive security coding assurance. To match the prospective potential needs of secured code, threats associated with the information security and all favourable circumstances of risks have to be bounded by security i.e., it must be ‘baked-in’ with the entire lifecycle of system or software development.
Encryption is a method of programming data for security so that it appears to be random data. Only the people sending and receiving the information have the key to decrypt the message, which will put it back into its original form making it readable. The only people with the key are the people who are intended to read the message. Not many people know what encryption is. I took a survey of twenty students and asked two questions. The first question I asked was do you know what encryption means and the second question I asked was have you ever heard of anybody using encryption. This is a chart of the information I received:
The term cryptography develops from a Greek word which implies hidden or secret writing. Cryptography is art of secret writing. The primary service provided by cryptography is capability to send information between two participants in an effective way that halts others from reading it. This type of cryptography provides other services namely,
Banking customers get satisfied with the system when it provides them maximum convenience and comfort while transacting with the bank. Internet enabled electronic system facilitate the operation to fetch these result. But it is very important to maintain the security aspect while customers avail services via mobile devices or wireless network because the customers are very sensitive with their personal information’s and other transaction details, hence the service provider must ensure effective security checks to ensure error free service and safe transactions.
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It was recognized that TLS 1.0, when managing different bundles, permits the accompanying parcels to utilize an IV that is the last figure content square of the past bundle. At the end of the day, an assailant who can see the encoded activity can note the IV utilized for session treat . Essentially put, a dynamic aggressor will have the capacity to assemble the Ivs for each one record just by sniffing the system. So if the aggressor can "figure" a plaintext message, he can make a theory at the session treat and check whether the figure content matches.
CRYPTOGRAPHY is the most important part to secure any business by securing the communication range. In this project important topics of cryptography that should be known in general is discussed . How decoding and encoding in done with the help of cryptography to secure any communication. How it helps to maintain authenticity of any industry or company. Cryptography helps in making transactions by keeping data secure. It also protect passwords, ATM pins etc. from hackers. Cryptography maintains aspects which is authenticated like Confidentiality, authenticity & integrity. In this project it is described how cryptography converts the essential data in coded form and how it is changed using terms encryption and decryption. In this undertaking distinctive keys utilized for encryption and unscrambling is examined like cryptography mystery key and open key. In this a short portrayal of encryption is given which is the starting venture in cryptography. Encryption takes an arrangement of calculations, or scientific articulations, to scramble information from its unique organization into one undecipherable. Purpose of cryptography is discussed in the project. How secret codes were used in ancient period is briefly described. Now key is used in cryptography how key convert the data from one format to another is discussed. There are three keys in cryptography public, private and shared keys. A brief discussion about how these
“Encryption is a way to enhance the security of a message or file by scrambling the contents so that it can be read only by someone who has the right encryption key to unscramble it” (Microsoft). Encryption uses an algorithm to change plain text data to cipher text. It played a very important role in wars and in military circles to protect top secret information from foreign countries.