Presentation Material

Abstract

8th November 2016 was a great date for the entire world. On the one hand, US election results were announced and on the other hand Prime Minister of India, Shri Narendra Modi Announced Demonetization in the country ( India ). Soon government started focusing on the cashless economy and encouraged people to use various online platforms and e-wallets for transactions. For Demonetization to be a successful one, the government took various steps pre - demonetization. The government ensured that most of the people should have a bank account so that they can deposit the money, they brought new technology to banks like self-help passbook update machine to cope up with the increase of users.

In this paper I’ll cover various flaws that were found in banking systems, apps etc exploiting which one can get :

Sensitive financial information of customers Bypass security measures Take out money from customer’s account Invade their privacy, and many more