Three-factor Authentication for Preventing Phishing Attacks in Banking

Today, everything has been digitized and Banking is one of the sectors which faces online threats and Phishing is one of the threat. Phishing is an online uniqueness fraud, which intends to seize classified data mainly alias name, keys and online trading aspects from its sufferers. Primarily, an intruder cheats people to disclose sensible data by emailing a fraudulent broadcast to huge number of customers. Therefore, protecting them from phishing attacks is extremely important. In our research, we are discussing Three-Factor Authentications for preventing Phishing attacks. In the first authentication after entering a username, the user needs to select few grids of an image which they have received via OTP. In the second authentication, the user will receive a security question which they gave at the time of registration and have to enter the answer for it. In the third authentication, the user's password will be split into two parts. One part of the password will be provided by the bank and the other half will be provided by the user. Keywords— Phishing Attacks, OTP, Banking Security, IM Services.