Authors : Rutuja Sagale , Vishakha Wanere ,Priyanka kakad ,Kamal kashyap
Abstract—Network security consists of different policies and rules predefined by its administrator to avoid illegal access, any modification in network or its accessible resources. It is one of the biggest and challenging domain in the various fields where communication based activities continuously happened and security need to the data is high. One of the well-known applications of networking system is banking on which we are going to focus to provide security. Main issues in that is password hacking, in response, banks and other financial institutions have developed technologies like device identification, one-time password (OTP), Automated Transaction Machine (ATM) etc. But these facilities have limitations to some extent. So we are going to proposed secure online transaction system using MOTP (Mobile one-time password) and identity based Double Encryption for banking purpose which will try to overcome limitations of previous system and making strong authentication based transaction system available for permitted users. The system we called it as strong authenticated because along with double encryption we will be provide International Mobile Equipment Identity (IMEI) as well as Short Message Service (SMS) alert facilities in case of stolen or lost mobile phones. So user will not be worry for security while using our proposed system.
