Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices

Jhon Melendez; Jomark Noriega; Jose Tiznado; Paulo Calderon; Yordy Benites; Luis Rivera; Jose Herrera; Jorge Mayhuasca

doi:10.20944/preprints202404.0238.v1

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preprints.org > computer science and mathematics > security systems > doi: 10.20944/preprints202404.0238.v1

Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices

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Version 1 : Received: 2 April 2024 / Approved: 2 April 2024 / Online: 3 April 2024 (13:13:18 CEST)

How to cite: Melendez, J.; Noriega, J.; Tiznado, J.; Calderon, P.; Benites, Y.; Rivera, L.; Herrera, J.; Mayhuasca, J. Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices. Preprints 2024, 2024040238. https://doi.org/10.20944/preprints202404.0238.v1 Melendez, J.; Noriega, J.; Tiznado, J.; Calderon, P.; Benites, Y.; Rivera, L.; Herrera, J.; Mayhuasca, J. Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices. Preprints 2024, 2024040238. https://doi.org/10.20944/preprints202404.0238.v1

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MDPI and ACS Style

Melendez, J.; Noriega, J.; Tiznado, J.; Calderon, P.; Benites, Y.; Rivera, L.; Herrera, J.; Mayhuasca, J. Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices. Preprints 2024, 2024040238. https://doi.org/10.20944/preprints202404.0238.v1

APA Style

Melendez, J., Noriega, J., Tiznado, J., Calderon, P., Benites, Y., Rivera, L., Herrera, J., & Mayhuasca, J. (2024). Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices. Preprints. https://doi.org/10.20944/preprints202404.0238.v1

Chicago/Turabian Style

Melendez, J., Jose Herrera and Jorge Mayhuasca. 2024 "Sectrabank Model to Mitigate Computer Fraud in Electronic Operations through Banking Applications on Android Devices" Preprints. https://doi.org/10.20944/preprints202404.0238.v1

Abstract

This research aims to introduce a model, SectraBank, designed to mitigate cyber fraud attacks, specifically targeting SIM Swapping and Fake App schemes in mobile banking users. A quantitative methodology with an experimental design was meticulously employed to examine the rise of cyber fraud within mobile banking. The study involved a sample of 100 professionals with advanced knowledge in Information and Communication Technologies (ICTs). Surveys were utilized to measure awareness of threats and perceptions of security before and after the implementation of the proposed model. SectraBank leverages unique user identifiers such as fingerprint authentication and the International Mobile Equipment Identity (IMEI) number, in addition to geolocation and One Time Passwords (OTP) for validating electronic transactions in mobile banking. The effectiveness of the proposed model was notable, achieving a 96.1% efficacy rate in mitigating Fake App attacks and a 90.2% success rate in countering SIM Swapping attacks. These findings underscore the potential of SectraBank as a robust solution to enhance cybersecurity measures in the realm of mobile banking.

Keywords

fake app; SIM swapping; cybercrime; computer fraud; security; authentication

Subject

Computer Science and Mathematics, Security Systems

Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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