An Analysis on Security of Electronic Transactions in E-commerce

E-commerce and online banking with its different terms (e-banking, internet banking, etc.) allows the conduction of financial transactions within the comfort of our homes and offices. Although the transactions are being processed from secure servers, there will always be computer criminals increasing the revenues up to levels comparable to that of a state. Yet, with countermeasures and security assessments carried out, we can have a safe online environment to perform our financial tasks way much faster, cheaper and convenient, without the concern of virtual attacks. This paper presents basic concepts on online banking, risks and a detailed description on modern online banking cybercrime.