• Journal of the Korea Institute of Information Security & Cryptology
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• v.28 no.6
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• pp.1475-1487
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• 2018

To verify remitter's identity when the remitter transfers money to a recipient using an electronic financial service provided by the financial institution, the remitter inputs the information; such as the withdrawal account number, the withdrawal amount, the password pre-registered with the financial company, or the information from authenticating medium that is previously distributed by the financial institution. However, the 1-Way transaction between the financial institution and the remitter is exposed to a great risk of accidents such as an anomaly remittance or a voice phishing fraud. Therefore, in this study, we propose a 2-WAY trade verification model for electronic financial transaction that can be mutually agreed by allowing the recipient to share the transaction information with the remitter and the financial company. We have improved the traditional electronic financial transaction's method by replacing it to 2-WAY trade method, and it is used for various purposes; such as preventing an error within the remittance or voice phishing fraud, enhancing loan transaction and contract transaction, etc. Through these variety of applications, we are expecting to reduce the inconveniences while improving the convenience of financial transaction and vitalizing the P2P transaction of financial institution.

• Journal of Digital Convergence
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• v.12 no.4
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• pp.133-143
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• 2014

This paper investigate how transaction cost factors affect organizational performance both directly and indirectly, through cooperative relationship lasting factors and degree of relationship satisfaction. The results can be summarized as follows: First, asset uncertainty directly influenced financial and non-financial performance. Also asset specificity and opportunism did not influence financial and non financial performance directly. Second cooperative relationship lasting factors were connected with transaction cost factors direct variables on cooperative relationship lasting factors are asset specificity and uncertainty, but opportunism did not directly influence. Third, degree of relationship satisfaction were connected with transaction cost factors direct variables on degree of relationship satisfaction are asset specificity and opportunism, but uncertainty had not affected degree of relationship satisfaction. Fourth, cooperative relationship lasting factors and degree of relation satisfaction had affected financial performance and non financial performance. In summary, this study find that transaction cost factors had indirectly influenced organizational performance through mediated variables such as cooperative relationship lasting factors and degree of relationship satisfaction.

• Journal of Internet Computing and Services
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• v.15 no.1
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• pp.157-170
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• 2014

As the increase of transaction using mobile banking continues, threat to the mobile financial security is also increasing. Mobile banking service performs the financial transaction using the dedicate application which is made by financial corporation. It provides the same services as the internet banking service. Personal information such as credit card number, which is stored in the mobile banking application can be used to the additional attack caused by a malicious attack or the loss of the mobile devices. Therefore, in this paper, to cope with the mobile financial accident caused by personal information exposure, we suggest outlier detection method which can judge whether the transaction is conducted by the appropriate user or not. This detection method utilizes the user's input patterns and transaction patterns when a user uses the banking service on the mobile devices. User's input and transaction pattern data involves the information which can be used to discern a certain user. Thus, if these data are utilized appropriately, they can be the information to distinguish abnormal transaction from the transaction done by the appropriate user. In this paper, we collect the data of user's input patterns on a smart phone for the experiment. And we use the experiment data which domestic financial corporation uses to detect outlier as the data of transaction pattern. We verify that our proposal can detect the abnormal transaction efficiently, as a result of detection experiment based on the collected input and transaction pattern data.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.17 no.8
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• pp.2083-2100
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• 2023

The rise of Industry 5.0 has led to a smarter and more digital way of doing business, but with it comes the issue of user privacy and security. Only when privacy and security issues are addressed, will users be able to transact online with greater peace of mind. Thus, to address the security and privacy problems associated with industry blockchain technology, we propose a privacy protection scheme for online financial transactions based on verifiable ring signatures and blockchain by comparing and combining the unconditional anonymity provided by ring signatures with the high integrity provided by blockchain technology. Firstly, we present an algorithm for verifying ring signature based on distributed key generation, which can ensure the integrity of transaction data. Secondly, by using the block chain technique, we choose the proxy node to send the plaintext message into the block chain, and guarantee the security of the asset transaction. On this basis, the designed scheme is subjected to a security analysis to verify that it is completely anonymous, verifiable and unerasable. The protection of user privacy can be achieved while enabling online transactions. Finally, it is shown that the proposed method is more effective and practical than other similar solutions in performance assessment and simulation. It is proved that the scheme is a safe and efficient online financial transaction ring signature scheme.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.1
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• pp.149-164
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• 2019

Digital Transformation and the Fourth Industrial Revolution, electronic financial services should be provided safely in accordance with rapidly changing technology changes in the times of change. However, telecommunication finance fraud (voice phishing) accidents are currently ongoing, and various efforts are being made to eradicate accidents such as legal amendment and improvement of policy system in order to cope with continuous increase, intelligence and advancement of accidents. In addition, financial institutions are trying to prevent fraudulent accidents by improving and upgrading the abnormal financial transaction detection system, but the results are not very clear. Despite these efforts, telecommunications and financial fraud incidents have evolved to evolve against countermeasures. In this paper, we propose an intelligent over - the - counter financial transaction system modeled through scenario - based Rule model and artificial intelligence algorithm to prevent financial transaction accidents by voice phishing. We propose an implementation model of artificial intelligence abnormal financial transaction detection system and an optimized countermeasure model that can block and respond to analysis and detection results.

• Convergence Security Journal
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• v.8 no.4
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• pp.9-19
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• 2008

By e-Financial Transactions Act enacted in January 2007, the financial institutions are responsible for indemnifying user's damage to ensuring security of the electronic financial transactions and to protecting financial users when suffering from electronic financial accidents. However, when occurring unauthorized financial transactions or electronic financial accidents by user's moral hazard, it is difficult to determine where the accidents happened at and whether caused by the intention or gross negligence of users. To protecting financial parties and ensuring the security and reliability of electronic financial transactions, this paper attempts to propose the means, what enhance the notification process about financial transactions and to strengthen IT regulatory compliance by using area information about electronic financial transactions, to protect risk of the financial accidents.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.24 no.5
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• pp.931-939
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• 2014

The Web or Mobile channel of previous Web access authentication system for a payment only provides the authentication of remote users, and does not provide the authentication between a user and a bank/financial institution. Therefore, this paper proposes the Transaction Certificate Mode(TCM) for a payment which can preserve the mutual authentication between a user and a bank/financial institution for Web-based payment systems. The proposed system has designed for wireless network instead of Secure Electronic Transaction (SET) designed for wired electronic transaction. In addition, this system with TCM is able to support an account-based transaction for wireless networks instead of a disadvantage of SET such as a card-based transaction for wired networks. Therefore, customers can check their balances without logging on their bank's web site again due to mutual authentication between a customer and his bank/financial institution.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.14 no.3
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• pp.1280-1300
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• 2020

In the modern financial sector, interest in providing financial services that employ blockchain technology has increased. Blockchain technology is efficient and can operate without a trusted party to store all transaction information; additionally, it provides transparency and prevents the tampering of transaction information. However, new security threats can occur because blockchain technology shares all the transaction information. Furthermore, studies have reported that the private keys of users who use the same signature value two or more times can be recovered. Because private keys of blockchain identify users, private key leaks can result in attackers stealing the ownership rights to users' property. Therefore, as more financial services use blockchain technology, actions to counteract the threat of private key recovery must be continually investigated. Private key recovery studies are presented here. Based on these studies, duplicated signatures generated by blockchain users are defined. Additionally, scenarios that generate and use duplicated signatures are applied in an actual bitcoin environment to demonstrate that actual bitcoin users' private keys can be recovered.

• The Journal of Society for e-Business Studies
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• v.23 no.4
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• pp.153-169
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• 2018

Previous e-financial anomalies analysis and detection technology collects large amounts of electronic financial transaction logs generated from electronic financial business systems into big-data-based storage space. And it detects abnormal transactions in real time using detection rules that analyze transaction pattern profiling of existing customers and various accident transactions. However, deep analysis such as attempts to access e-finance by insiders of financial institutions with large scale of damages and social ripple effects and stealing important information from e-financial users through bypass of internal control environments is not conducted. This paper analyzes the management status of e-financial security programs of financial companies and draws the possibility that they are allies in security control of insiders who exploit vulnerability in management. In order to efficiently respond to this problem, it will present a comprehensive e-financial security management environment linked to insider threat monitoring as well as the existing e-financial transaction detection system.

• Journal of the Korean Mathematical Society
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• v.44 no.1
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• pp.139-150
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• 2007

We investigate an optimal portfolio selection problem with transaction costs when an illiquid asset pays cash dividends and there are constraints on the illiquid asset holding. We provide closed form solutions for the problem, and by using these solutions we illustrate interesting features of optimal policies.