Preview

Establishing a Secured Atm Banking System

Powerful Essays
Open Document
Open Document
4156 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Establishing a Secured Atm Banking System
Establishing a Secured ATM Banking System Contents
1. Abstract
2. Introduction
3. Executive Summary
4. Mission
5. Company Background
6. Statement of the Problem
1. Problem Statement
2. Problem Significant
7. Project Objective
8. Limitation of the Project
9. Methodology
10. Analysis of the Project
11. Scope of the Statement
12. Proposed Improvement
13. Expected Output
14. Recommendation
15. Acknowledgment

Abstract
The aim of this study is to investigate risk management, security and controls in the
Context of Automated teller machines (ATMs). In doing so, it adopts a non-technical
Approach by investigating the interrelationship and effect of risk management and controls
In setting Automated Teller Machine security goals. The literature explores and discusses
The risk management and different controls of ATMs. To reduce the risk of fraudulent
Activity, several controls can be integrated into the ATM processing environment.
However, the controls should not be considered a cure-all.
Keywords: ATMs, data security, risk, fraud, electronic banking, and controls.

Introduction
This paper examines the effects of incompatibility in network industries. In a network industry such as telecommunications, the internet, or automatic teller machines (ATMs) in the banking industry,firms are technologically interconnected. This interconnection can lead to more complicated pricing structures than those observed in traditional industries, since a consumer may receive direct or indirect services both from his chosen firm and its rivals. While interconnection increases the size of the network available to consumers, in industries such as the banking industry, the introduction of price discrimination between affiliated and unaffiliated consumers reintroduces firm-level network economies by reducing compatibility within the shared network. This paper measures the impact of this incompatibility and finds significant effects

You May Also Find These Documents Helpful

  • Powerful Essays

    Isc363 Phase 3

    • 1899 Words
    • 8 Pages

    The level of security can determine the rise and fall of any organization, no matter how big or small the company may seem, so mitigating risk should always be the number one priority. Risk mitigation can be define as the process of implementing any form strategic actions that will reduce the level of threats that may cause financial hardship towards the organization. In addition, risk mitigation tracks, identify and evaluation all form of risk, including new and old. The focus of risk mitigation is to assist the organization’s department of security administration with identifying a list of potential problems that…

    • 1899 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Acc 544 Internal Control

    • 800 Words
    • 4 Pages

    The purpose of this brief report is to explain the need for the internal control system within the organization. When controls are in place with an insurance and portfolio approach. An internal control system in any organization is a way to regulate, to reduce lost, to minimize risks, and to accomplish the organizational goals and success (McCarthy, 2004). The majority of organizations depend on the insurance approach and the portfolio risk management approach. The company to manage a business risk is currently using these approaches. It is now being recommended that the company make a transition in order to capture the benefits of an internal control system. Explained below are the two types of currently used approaches, insurance and portfolio, that are used within the organization.…

    • 800 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Dickinson Technologies

    • 1575 Words
    • 7 Pages

    The controls related to safeguarding the assets: Section 3, under topic Management’s Philosophy and Operating Style, of the questionnaire suggests that control system to protect valuable assets exists, but, number of examples of failure to adhere to the system or lack of appropriate management oversight were observed.…

    • 1575 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Bus 505 Assignment2

    • 723 Words
    • 3 Pages

    Risk management is the process of identifying risk issues and the options for controlling them, commissioning a risk assessment, reviewing the results and selecting amongst the assessed options to best meet the goals. The purpose of risk analysis is to help managers better understand the risks (and opportunities) they face and to evaluate the options available for their control. (Vose software, 2007)…

    • 723 Words
    • 3 Pages
    Good Essays
  • Good Essays

    To reduce the impact of workplace risks in the Biz Ops corporation we need to look at any incidents or accidents that have occurred in the past, and assess whether the changes have been effective or if any changes need to be made to the current procedures. We also need to look at the current operating procedures and into future operations to update any changes we need to incorporate and set out a plan to put these procedures in place. All activities need to be assessed prior to making any changes and risk managed throughout with regular training, monitoring, auditing and reporting processes carried out. All employees are responsible for applying risk management principles and practices in their respective work areas…

    • 361 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Security is a compelling concern for business and employees. Employers need to establish that they carry out complete risk assessment and address security issues by implementing required security systems. Physical security system is a fundamental component of an establishment, which protects a several aspects such as building security, theft, vandalism and falsification of records. Therefore, organizations and companies need to highly aware of to protect their physical assets. The foundation of a competent security management can prevents such risk like discovering solutions, authorization, and controlling employee’s activities. As a result, organizations can ensure the safety and protection of employees and property.…

    • 1377 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    Companies can elect to use physical security as part of their contingency planning measures. Physical security measures will include perimeter boundaries, surveillance devices, secure entry points and identifications checks, and secure access for internal sensitive areas. The organization might decide to bring in a specialist response team to help with a variety of threats, whether industrial, medical or any security related incident. Regular security checks on locations and materials should be conducted to deter or identify breaches of security, and strong links with external agencies are useful to augment a company’s resources, as well as share risk. Some considerations related to physical security risk management measures follow (Deutsch).…

    • 1927 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Many types of security are in existents today, site or mobile patrol; loss prevention functions; special events security; in-house security functions and private investigations are some of the tasks. Choosing the right one for the needs of any establishment should be one of the ultimate goals of the business. This paper will focus on proprietary and contract security in particular. A comparison of the two types of security will be addressed. Identifying some of the issues in either type of security is of great importance as well as understanding the various roles of security personnel. After briefly recognizing some of the advantages and disadvantages of proprietary versus contract security, a recommendation will be rendered on which type should be utilized for the international automobile manufacturer that I have been assigned as the security manager.…

    • 897 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Assignment 1 Jiadai Gao

    • 596 Words
    • 2 Pages

    Financial institutions should implemented the following internal control procedures. The first one is Risk Assessment, which means financial institutions’ management should identifies, analyzes, and manages risks that can affect the company. The second one is Control Environment, this procedure require management of the institutions attitude toward, awareness of, and actions concerning the internal control structure to in order to reduce the fraud and error. The third one is Control Activities, which means that institutions’ management should enact specific policies and procedures to achieve the management objectives. What’s more, they should take necessary procedures to target the risks. The forth step is information and communications. Institutions should gather all necessary information to carry out internal controls. Providing, sharing and obtaining information is also very important, which is called communication. The last step is Monitoring. Which is an ongoing process to evaluate controls and determine whether all the operations are as intended. They changed when operating conditions change.…

    • 596 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Week 10 Technical Paper

    • 2283 Words
    • 10 Pages

    Every organization is faced with some risk or potential threat that could cause an interruption to the organization’s operations. These risks and threats can come from within or outside of the organization. To prepare for the worst that could happen, organizations must focus their attention on how to assess different types of risks to protect the organization from the possible negative effects to the daily operations. Performing a risk assessment is one of the most important steps in the risk management process (eHow, 2011).…

    • 2283 Words
    • 10 Pages
    Powerful Essays
  • Better Essays

    sec 410

    • 1157 Words
    • 5 Pages

    It is important for all organizations to have physical security. Physical security protects the organization in every way. Every individual needs to be aware of the importance of physical security. Not only is important for the individual to be aware of the importance physical security has in an organization but to be able to understand how physical security works within the organization. In this paper the writer will be describing the core concepts of physical security. Additionally the writer would be writing about the security assessments. Last the writing would be writing about the basic physical controls.…

    • 1157 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Security today has been on the top of many companies and businesses list of priorities. Where in the past a single security guard proved sufficient, today alarmed sensors, metal detectors and security guards are required to conduct the same security. The need for some type of security implementation is necessary in every business. There are a few options when considering the hiring of security. A company’s first need is to decide how much money it wants to spend on security along with the type of security needed. According to Contract Security Agencies (2009),…

    • 762 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Risk Management is an area which involves the consideration of safety precautions for patients and also in different areas including the work place. Patient affairs are of major concern since it deals with life protection. There are various risk management techniques which ensures ones safety. The purpose of risk management is to discard any possibilities of misfortune due to lack of certain control measures. Risk Management was introduced to ensure safety within various ranks of life. The ultimatum care accorded to patient determines their well being. Risk management involves considering all the required health standards when undertaking any activity (Joan, 2007). Health standards are the set guidelines set to ensure safety in different areas. Health regulations ensure people's safety.…

    • 615 Words
    • 2 Pages
    Good Essays
  • Good Essays

    The employer should carry out suitable and sufficient risk assessments and put control measures in place. If need be, competent persons may be engaged to enable the employer implement these measures. Staff shall be provided information on risks and the employer shall see that employees ate trained and competent to carry out all…

    • 853 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Risk management is the key in the business of BNP Paribas. The group Risk Management department, which we call GRM from now in the paper, is responsible for measuring and controlling risks at Group level. It is dependent from the core businesses, lines and territories and reports directly to the Group executive Management. Under the authority of GRM, the Group Compliance GC Function monitors the operational risk and reputation risk.…

    • 1255 Words
    • 6 Pages
    Better Essays

Related Topics