Synapse
⌘+K
Synapse
PulseExploreClubsResearchersJournals
Instagram
HomeClubsExplore
September 12, 2025International journal of research and scientific innovation

Enhancing Transactional Security in U.S. Banking Systems by Implementing OTP-Based Two-Factor Authentication to Mitigate Debit and Credit Card Fraud

View Full Paper
Ask AI
Bookmark
Share

Authors

COChristopher OkaforNnamdi Azikiwe UniversityDODickson O. OseghaleCenters for Disease Control and PreventionSAStephen Ayanlaja

Discussion

Loading...

Member takes

Overview

This paper demonstrates how two-factor authentication can reduce debit and credit card fraud risks, suggesting practical implementation strategies for financial institutions.

Key Points

  • Implementing OTP-based two-factor authentication significantly enhances transactional security in banking systems.
  • Current fraud trends highlight the limitations of traditional authentication methods like static passwords and CVVs.
  • This paper proposes a robust authentication framework using dynamic one-time passwords to combat unauthorized access.
  • The findings provide insights on user experience and regulatory compliance to ensure effective adoption in financial settings.

Cite This Study

Okafor et al. (2025) studied this question.

synapsesocial.com/papers/68d44a4731b076d99fa53d03https://doi.org/10.51244/ijrsi.2025.120800111
View Full Paper
Ask AI
Bookmark
Share

Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1Vulnerabilities in One Time Passwords and Protection Method Using Secret Key and Biometric Hash Code2024 · 2 citations
  2. 2Secure Online Banking Authentication System Using Time Bound Password2024 · 1 citations
  3. 3Automated Fee Payment Systems in ATM Enhancing Security & Efficiency Through OTP Verification2024
  4. 4Enhanced Security for ATM Machines Using Facial Recognition and OTP2024
  5. 5Development of a Three Factor Authentication System for Online Banking2024