An Enhanced Security Method for Monitoring Transaction Risks in Electronic Money Transfer Machines in India

generally, micro ATMs are point of sale devices. Running on low power, GPRS connects to banks' servers through a point-to-point system. This will reduce process costs. Micro ATMs help provide banking services to people in unbanked rural areas. These are mostly used in Aadhaar based payment systems. All three types of data sets - memory data, volatile data and static data - are vulnerable to threats from micro-ATMs. The memory details are from the card's records to the point of sale terminals through the point of interface. If an attacker has gained access to a point-of-sale terminal device, it is extremely difficult to protect against data theft. Generally, the memory records of the input data of point-of-sale devices are in clear words, making it easy for attackers to steal information. In this paper, An Enhanced Security Method has proposed for Monitoring Transaction Risks in Electronic Money Transfer Machines. To minimize this risk, card data should be locked in a suspicious manner. A terminal-to-terminallock method can be used for this. Also through skimming, credit/debit card numbers can be stolen from micro ATMs. Apart from this, details can also be leaked by fraudsters who introduce themselves as bank employees. The person will tell the customer to check the cards for damage. Or they can steal details by pretending to help a customer trying to make a transaction at an ATM and also to a person who is not familiar with ATMs.