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Online banking faces different kind of risks that are specific to conducting sensitive business over the Internet. It is imperative that banks implement strong security approaches that can adequately address, monitor, manage, and control risks and security threats. This paper demonstrates that the online banking may confront operational, security, legal, and reputation risks. The risk management consists of strategic planning, identifying, analysis, monitoring and manage risks. The innovation of bank information technology is the centre for the bank security. An innovative and proactive method to risk management is vital as banks move into Internet territory.