E-PAYMENT SYSTEMS PROTECTION PROCESS - METHODOLOGICAL APPROACH

Abstract

The mass usage of the Internet payment systems resulted with need to research the most frequent fraud attacks and to make in-depth analysis of the technologies for fraud prevention. The systematization of the attack techniques, analysis of the technology and the classification of the technologies are needed to develop the methodologies for protection of e-payments processes. This paper deals with the fraud technologies, which are known to the literature, but also describes the new technologies. The fraud techniques, which are especially described are: “Phishing”, “Pharming”, “Vishing” and “Phaxing”. The analysis of these fraud methods has been performed in order to determine the main weaknesses of the payment systems. This will enable the implementation of the security mechanisms into the new-generation payment systems to prevent attack like these. Also, the paper deals, on critical manner, with the existing techniques of protection. In order to protect the business, many techniques have been developed. The most respectable are protection techniques based on the 3-D Secure Specification. The most prominent programs are: Verified by Visa, MasterCard SecureCode and J/Secure, developed by Visa, MasterCard and JBC respectively. This paper should answer the question on how the existing systems are reliable in preventing fraud in the Internet payment systems.