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1. AGBOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOLI ISS User Inserts Card amp ATM checks Act Enter PIN PIN amp Card Expiration Sends reminder SMS if expiration lt 30 days sends TREQ On receipt of TREPLY ATM dispenses cash perform other request display error message Bank Server sends confirmation SMS process TREPLY sends debit SMS and sends TREPLY Act Owner confirms rejects transaction Figure 3 The Architecture of the Proposed Algorithm The architecture is further explained by the following algorithm Step 1 Insert ATM Card e Cash card If card is ok then If expdate lt 30 days then Send SMS reminder to account holder to renew card Request for PIN 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 26 S Agholor Available at www AJOSSE com BOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 3 Else output Invalid card and stop transaction If PIN ok then 20 create transaction request TREQ Send TREQ to authorization central system in step 2 Else display Invalid PIN please enter your PIN again PIN re entered If PIN ok then proceed to 20 Else display Invalid PIN please enter your PIN again PIN re entered If PIN ok then proceed to 20 Else block account and seize card Step 2 Authorizing system decodes and processes information If card and PIN validation ok then Send SMS to account holder to confirm or reject transaction using Y or N If Y2. O 2009 Adoption of Internet Banking by Iranian Consumers An Empirical Investigation In Journal of Applied Sciences Vol 9 pp 67 75 Mosabber H 2006 Understanding of ATM Automated Teller Machine in Bangladesh An Unpublished Thesis submitted to the Department of Computer Science and Engineering BRAC University Bangladesh Obiano W 2009 How to fight ATM fraud Online Nigeria In Daily News June 21 p 18 Omankhanlen O 2009 ATM fraud rises Nigerians groan In Daily News June 20 pp 8 10 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 32 S Agholor Available at www AJOSSE com ANAL OF SCIENCE AND SCIENCE EDUCATION AJUSSE VOL 3 Rogers W Gilbert D and Cabrera K 1997 An analysis of automatic teller machine usage by older adults A structured interview approach In Applied Ergonomics 28 3 173 180 Suresh S R 2008 A Social Technical Business Model Using Automatic Teller Machines and Biometrics In Journal of Research in Engineering IT and Social Sciences 2 1 132 141 Triton 20040 Automated Teller Machine Model FT5000 User Manual Version 3 0 Zenith Bank 2012 How To Use An ATM From www zenithbank com howtouse_atm cfm Date visited 07 08 12 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 33
3. Step5 Authorization sent to ATM Step6 Cash receipt provided to user if it is cash request Otherwise deposit is accepted Step7 Transaction confirmed The algorithm is explained in detail as follows The user accesses the ATM through the magnetic band card issued by the financial institutions Once the card is validated by the ATM the application requests the user s PIN and the type of transaction to be conducted This information is combined with control data to create a requirements message to the authorizing system this message a Transaction Request TREQ is sent over a public or private data communications network The authorizing system receives the TREQ and proceeds to decode and process the information as follows card identification PIN validation financial transaction execution application file updates and reply preparation The Transaction Reply TREPLY is then sent via the communications network to the ATM originating the transaction Upon TREPLY reception the ATM decodes and processes the information and presents the transaction results to the user If it is a cash request the cash is presented if it is an information request it is shown on the screen or printed on a receipt Finally the ATM s application puts together and transmits a Transaction Confirmation TCONFIRM to the authorizing system including feedback on the success or failure of the transaction In general a centralized system has the ability to connect w
4. communications ATMs started to work exclusively online This led to unprecedented expansion in the deployment and usage of ATM worldwide According to the estimates developed by ATM Industry Association ATMIA the number of ATMs worldwide in 2007 was over 1 6 million Essien 2011 An ATM hardware is classified into two major categories the first one corresponds to its PC architecture a microprocessor memory drives monitor keyboard etc the second one relates to ATM specific functions such as card reading cash dispensing cash storage user and operator s video and keyboard interaction etc Based on the PC architecture the software included in an ATM is not very different to that which is found in a personal computer It has an OS 2 or Windows based operating system The application software is mostly provided by the manufacturer of the ATM machine and it normally offers an interface allowing for each financial institution to adapt its own applications Suresh 2008 The General ATM Figure 1 according to Mosabber 2006 shows the interactive components of ATM The functions of each component are described below Card Reader Customer inserts the card in where it is written on the screen Please Insert your card Keypad Use for PIN code input choices amount of money etc as the input to the ATM machine 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 18 S Agholor amailable at www AJOSSE com 4GBOR JOU
5. Social Science 27 1 53 58 Adepoju A and Alhassan M 2010 Challenges of Automated Teller Machine ATM Usage and Fraud Occurences in Nigeria A Case Study of Selected Banks in Minna Metropolis In Journal of Internet Banking and Commerce 15 2 1 10 Ayo N 2010 Illegal ATM Withdrawals How To Seek Justice From www nairaland com 446737 Date visited 07 08 12 Devinaga R 2010 ATM Risk Management and Controls In Europena Journal of Economics Finance and Administrative Sciences 21 161 171 Essien E E 2011 Proposed Algorithm for Automated Teller Machine In Proceedings of the 10th International Conference of the Nigeria Computer Society Abuja Nigeria 22 180 186 Gowrisankaran G and Krainer J 2011 Entry and Pricing in a differentiated Products Industry Evidence from the ATM Market In RAND Journal of Economics 42 1 1 22 Maenpaa K Kale S Kuusela H and Mesiranta N 2008 Consumer perceptions of Internet Banking in Finland The Moderating Role of Familiarity From www epulications bond edu au business pubs Date visited 12 01 14 Mcandrews J 2003 Automated Teller Machine Network Pricing A Review of the Literature In Review of Network Economics 2 2 146 158 Mengxing Z Feng W Deng H and Yin J 2013 A Survey on Human Computer Interaction Technology for ATM In International Journal of Intelligent Engineering and Systems 6 1 20 29 Mirza A Beheshti H Wallstrom A and Mirza
6. which has no set limit ATM Transactions on the Experimental Group using the proposed Algorithm Just as done in the Control Group we performed two transactions that is cash withdrawal and fund transfer on the participants accounts The results are presented in table 5 Table 5 ATM Transactions on the Experimental Group Transactions Success Success Cash Withdrawal 0 0 Fund Transfer to another account 0 0 From table 5 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 29 S Agholor 4yailable at www AJOSSE com g AR JIURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 3 the success rate is 0 which means that our developed algorithm has helped correct the lapses found in the current Algorithm It has the following advantages over the existing algorithm 1 Before transaction can occur in your account you must confirm In other words you are to authorize transaction in your account via SMS 2 With this algorithm you can give your ATM and PIN to someone to make transaction on your behalf bearing in mind that the transaction cannot be complete without your authorizing it through SMS 3 If your ATM card is stolen or missing the person in possession cannot do any transaction with it without your knowledge 4 The problems of Shoulder Surfing and Keyboard loggers attacks have been eliminated because every transaction on the account has to be confirmed by the owner 5 ATM card ow
7. Keywords ATM ATM Card Fraud Transaction 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 17 S Agholor Available at www AJOSSE com AGBOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VO INTRODUCTION An Automated Teller Machine also known as ATM or Cash Machine is a computerized device that provides the customers of a financial institution with the ability to perform financial transactions without the need for a human clerk or bank teller Devinaga 2010 The ATM is a terminal provided by bank or other financial institutions which enables the customer to withdraw cash make a balance enquiry order a statement make money transfer or deposit cash The ATMs are basically self service banking terminals and are aimed at providing fast and convenient service to customers Some of the new generations of ATMs are able to cash a cheque dispense traveller s cheques and postage stamps perform stock transfers print discount coupons issue phone cards and even sell concert tickets In the early days of Automated Teller Machine ATM the machine operated in a local mode without any connection to the banking systems and transaction authorization took place based on the information recorded in the magnetic bands of the cards The next step in the evolution of this industry was the connection of these devices to the bank s centralized systems In the early 90 s taking advantage of the technological boom in microcomputers and
8. RNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 3 Display Screen This screen shows all the instructions or options for the customers convenience Screen Buttons When options are given on the screen the user can choose any of the options accordingly by the use of button on left or right side of the screen These buttons select the option from the screen Cash Dispenser Withdrawal money is given by this slot Deposit Slot To deposit money this slot is used Speaker Speaker provides the facilities to the customer by giving auditory feedback Screen Receipt Card Buttons Printer Reader Speaker 2001 HowStuffWorks Display cash Deposit Keypad Screen Dispenser Slot Figure 1 Interactive Components ATM Source Mosabber 2006 The rest of this paper is structured as follows Section 2 deals with the Literature Review where existing algorithms were critically reviewed Section 3 describes the Design Methodology In section 4 Implementation and Evaluation were carried out Finally Recommendation Limitation and Conclusion were discussed in section 5 LITERATURE REVIEW ATM fraud is universal and old as the arrival of ATM According to Devinaga 2010 in 1989 570 pounds was wrongly deducted from John Allan s account with Bank of Scotland A total of 8 cash withdrawals were carried out three of them when he was away with his card in Andorra 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 19 S Agho
9. S Agholor Available at www AJOSSE com AN ENHANCED ALGORITHM FOR PREVENTING ATM FRAUD IN NIGERIA S Agholor Department of Computer Science Federal College of Education Abeokuta AGBOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOLI ISSU ABSTRACT The problem of ATM frauds is universal in nature and its consequences on the society should be of great concern to all stakeholders This study examined the existing algorithms that drive ATM transactions and found it to be somewhat faulty because of the problems associated with its implementation Some of the problems are allowing transactions to take place in the account before alerting the account s owner inability to give notice to the ATM card owner that the card is about to expire so that the process of replacement can commence inability to protect the ATM card owner from shoulder surfing and keyboard loggers and not allowing the account owner to authorize payment before debit can take place in the account It is against this background that a new algorithm was developed by the author to correct these observed lapses in the existing algorithm The existing and the developed algorithms were subjected to laboratory experiment through simulation technique The results obtained show that the developed algorithm performed better than the existing algorithm in terms of fraud prevention Finally the paper recommends the adoption of the developed algorithm by the banks among others
10. SSE ALL RIGHTS RESERVED ISSN 1597 8774 30 S Agholor Available at www AJOSSE com BOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 3 In this case we strongly recommend that Mobile Wireless Network providers expand their network base and be alive to their responsibilities to their customers 2 The user Mobile Phone was not charged or was switched off and in either case the user was unable to send receive SMS This is also one of the reasons why we were able to make repeated withdrawals on the Control Group without hindrance For the Experimental Group it is a blessing in disguise as no transaction can occur in that account As earlier pointed out it could be frustrating for a legitimate account holder to be denied of service Here the account holder should ensure that his or her Mobile Phone is always switched on CONCLUSION ATM has great possibilities in terms of bank customer transactions but that will depend on the extent to which the ATM frauds are controlled For effective control of ATM frauds the recommendations should be put to use 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 31 S Agholor Available at www AJOSSE com GEER JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL REFERENCES Adeloye A L 2008 E banking as new frontiers for banks In Sunday Punch September 14 p 25 Adeeoti J O 2011 Automated Teller Machine ATM Frauds in Nigeria The Way Out In Journal of
11. ansactions on the Control Group Transactions Success Success Cash Withdrawal 250 100 Fund Transfer to another account 250 100 From table 3 it shows that fraudulent activities can go on unhindered once the PIN and the ATM card are compromised In this study we succeeded in making transactions in all the 250 accounts unhindered This finding confirmed the flaws inherent in the current ATM algorithm These flaws were purportedly corrected by the preventive algorithm developed by the banks Cash withdrawal and fund transfer were performed on the participants accounts using this algorithm The results are as shown in table 4 Table 4 Using Bank s Preventive Measure Transactions Success Success Cash Withdrawal 190 16 Fund Transfer to another account 237 95 From table 4 it shows that the bank s current preventive measure is somewhat faulty For instance in cash withdrawal we made the maximum allowable withdrawal of N20 000 00 per transaction for 190 accounts out of the 250 accounts This represents 76 success The case of fund transfer is 95 which unfortunately have no transaction limit Since the preventive measure allows for at least one transaction which may wipe out the money if it is fund transfer then the preventive measure is not reliable A clever criminal may avert cash withdrawal since the maximum he can get for one transaction is N20 000 00 and go for fund transfer
12. ard As the customer is endlessly trying to push the card through the fraudster offer assistance by pretending to help the customer push through the card h Diversion i ATM Burglary According to Maenpaa et al 2008 security can stand for the reliability of an innovation and an overall belief on the part of the user that banking transactions can be completed confidentially and safely Study by Rogers et al 1997 asked the eight non users if they had any concerns about using ATMs The result of the study indicated that most of them have mentioned safety as the main concern This result is almost similar to that of Mirza et al 2009 study in respect to internet banking However Mcandrews 2003 interviewees also focused on many issues related to safety and security These include their inability to use ATMs in a remote location especially in the evening 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 21 S Agholor 4yailable at www AJOSSE com g OR JIURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 3 In this context the majority of ATMs today are located at sites other than banks such as malls and grocery stores Gowrisankaran and Krainer 2011 Study of Maenpaa et al 2008 focused on many aspects for security of internet banking users most of which are also related to ATMs These include privacy of their bank transactions and safety of their bank transactions Study by Adepoju and Alhassan 2010 revealed tha
13. card account Step5 Select from the list any amount you intend to withdraw Otherwise select OTHERS if the amount you want to withdraw is not in the listing Enter the amount you want to withdraw eg N15 500 00 and press the PROCEED button to process your transaction Step6 Choose YES if you want to do another transaction Otherwise NO to end transaction It should be noted that Zenith Bank gave step by step description on how to perform other transactions such as Checking your Balance Fund Transfer etc The procedure is same except that in step3 you select the actual transaction you needed Flaws of the Existing ATM Banking Algorithms 1 It sends SMS alert only after deduction has been carried out on the end user s account 2 It allows illegal withdrawals transfers when end user s password is compromised In other words illegal withdrawals transfers are allowed without the consent of the legitimate owner for at least once 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 24 S Agholor Ayailable at www AJOSSE com WBOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOLS 3 It does not give notice reminder on the expiration of the card Preventive Measures put in place by the Banks in Nigeria to reduce ATM Fraud Various banks in Nigeria have taken preventive measures to correct some of the flaws enumerated above The measures are 1 Maximum ATM withdrawal per transaction put at N20 000 00 2 Ma
14. eeps to get their attention If there is a problem reading a card make sure the customer is inserting the card correctly Most problems are the result of inserting the card incorrectly Once the card has been read in successfully a surcharge message if applicable may be displayed the surcharge message may be displayed at the end of the customer s transaction selection Step2 The customer must then enter his secret Personal Identification Number or PIN code Step3 Select transaction type and account and the desired amount of the transaction if needed Step 4 If the transaction was processed successfully the customer is prompted to retrieve the requested cash for withdrawal transactions and or the applicable transaction receipt as needed If the transaction was declined a short receipt indicating the problem is printed In Nigeria Zenith Bank 2012 while educating their customers on how to use ATM gave a vivid algorithm on how its ATM works using Making Withdrawal as a case study as follows Step1 Insert your card when prompted to do so with the red surface facing up and ensuring that the edge with the white arrow indication goes in first Step2 Enter your PIN number and press PROCEED Step3 From the list of transaction types select WITHDRAWAL Step4 Select CHECKING if you are withdrawing from your current account SAVINGS to withdraw from your savings account or CREDIT to withdraw from your master
15. he PIN to the customer personally and the customer is usually instructed not to disclose the number to a third party ATM card is about the size of a normal credit card and apart from the need to ensure its safety its surface strips could be mutilated which may make the machine to reject it even though the PIN number is entered correctly Obiano 2009 blamed the menace of ATM frauds on indiscriminate issue of ATM card without regard to the customer s literacy level According to him one of the frequent causes of fraud is when customers are careless with their cards and pin numbers as well as their response to unsolicited e mail and text messages to provide their card details Omankhanleu 2009 opined that the current upsurge in nefarious activities of Automated Teller Machine ATM fraudsters are threatening electronic payment system in the nation s banking sector with users threatening massive dumping of their cards if the unwholesome act is not checked 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 20 S Agholor Available at www AJOSSE com UR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL ISS Adeloye 2008 identified security as Well as power outage as major challenges facing the ATM users in Nigeria A Report on Global ATM Frauds according to Adeoti 2011 identified the following types of ATM Frauds a Shoulder Surfing This is a fraud method in which the ATM fraudster uses a giraffe method to monitor t
16. he information the customer keys in into the ATM machine without the knowledge of the customers b Lebanese Loop This is a device used to commit and identify theft by exploiting Automated Teller Machine ATM Its name comes from its regular use among Lebanese financial crime perpetrators although it has now spread to various other international crime groups c Using Stolen Cards This is a situation in which the ATM card of a customer is stolen and presented by a fake presenter d Card Jamming Once the ATM card is jammed fraudster pretending as a genuine sympathizer will suggest that the victim re enter his or her security code When the card holder ultimately leaves in despair the fraudster retrieves the card and enters the code that he has doctored clandestinely e Use of Fake Cards Fraudsters use data collected from tiny cameras and devices called skimmers that capture and record bank account information f Duplicate ATMs The fraudsters use software which records the passwords typed on those machines Thereafter duplicate cards are manufactured and money is withdrawn with the use of stolen Passwords Sometimes such frauds are insiders job with the collusion of the employees of the company issuing the ATM Cards g Card Swapping This is a card theft trick whereby a fraudster poses as a Good Samaritan after forcing the ATM to malfunction and then uses a sleight of hand to substitute the customer s card with an old bank c
17. ith each and every ATM and at the same time communicate with each and every centralized system that is required to complete a transaction According to Mosabber 2006 in Bangladesh the algorithm used to drive ATM is Step1 First customer insert ATM card E cash card into the machine and wait to insert PIN personal identification number When both processes are done ATM Machine check account number and PIN for further processing like requesting money to the bank server Step2 Bank Server debited the amount of money from the customer account And update database for that customer account and send all transaction information to ETN server Step3 ETN server then update database so that they can send report to the banks And then ETN send clearance signal to the ATM machine to dispenser Step4 After the clearance signal ATM machine dispense money to the customer where ETN stands for Electrical Transaction Network According to Triton 2004 an ATM manufacturer company in USA the ATM Algorithm provided is Step1 Insert the ATM card into the card reader of the terminal The card must be inserted so that the magnetic strip can be scanned by the card reader s sensor 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 23 S Agholor Avgilable at www AJOSSE com SGEIR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 3 If the customer inserts the card incorrectly a warning message will be displayed accompanied by several b
18. lor Ayailable at www AJOSSE com AGBOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL In the words of Ayo 2010 a large sum of money was withdrawn in 2009 from my account with GTB of Nigeria and I received alerts on the transactions shortly after my account was completely looted According to Adeoti 2011 the first bank to introduce ATM in Nigeria was the Moribund Societe Generale Bank of Nigeria SGBN in 1990 The trade name for SGBN s ATM was Cash Point 24 One of the first generation banks then First Bank Plc came on stream with their own ATM in December 1991 a year behind SGBN They also gave a trade name FIRST CASH to their ATM While that of SGBN was the drive in system that of the First Bank ATM was through the wall The growth of ATMs in Nigerian banks rose from 83 in 2006 to 289 in 2007 as can be seen in table 1 Almost all banks introduced the ATM in their banks premises in 2007 The increase in number of customers using ATM has also increased the propensity to fraudulent practices by the ATMs fraud perpetrators Table 1 ATM Growth in Nigeria Year No of ATMs Growth Rates 2005 425 6 3 2006 7716 83 0 2007 3 017 289 0 2008 5 894 95 0 Source Inter switch Reports 2008 Access to ATM is through the use of Personal Identification Number PIN and a plastic card that contains magnetic strips with which the customer is identified Banks usually hand over t
19. ners are continuously reminded in every transaction of the possible expiration of their cards once it is less than 30 days to enable them place order for replacement RECOMMENDATION LIMITATION AND CONCLUSION Recommendation 1 We recommend that the banks should as a matter of urgency adopt this algorithm for the safety of their customers transactions 2 We recommend that the network providers should be alive to their responsibilities by ensuring uninterrupted GSM services to their customers Limitations The following limitations are common to both the Control Group and the Experimental Group 1 The failure of Mobile Wireless Network providers to allow account holders to send receive SMS This failure may be due to congestion in the Mobile Wireless Network which could involve loss of SMS or delay in the receipt of SMS by the user This accounts for why we made repeated withdrawals on the Control Group despite the account holders being aware that they could block their account when they noticed unauthorized transaction in their accounts It is either they did not receive alert or the alert came late or the SMS meant to stop the further transaction came late or was lost in transit due to network congestion On the Experimental Group it accounts for few cases where we were unable to make transactions which is an advantage to the account holder though it could lead to frustration when the owner actually needed to make transaction 2014 AJO
20. t the security level is poor in Nigerian banks as some banks do not offer any tools where customers can easily report cases of ATM fraud ATM which has been widely applied has played a significant positive roles in people s lives but fraudsters began to endlessly take advantage of the ATM fraud related issues such as huge security holes peeping at passwords exchanging fake cards installing miniature camera head and fake keyboard Mengxing et al 2013 ATM has security keys programmed Between the ATM the bank and the network processor the code changing can guarantee the credit of access and the safety of ATM card numbers by scrambler Review of Transaction Functionality Existing Algorithms ATM transaction elements are the card and the ATM components Figure 2 according to Suresh 2008 shows the sequence of events involved in the authorization process together with the functionality of the central authorization system to which the ATM is connected Figure 2 ATM Transaction Sequence Source Suresh 2008 According to Suresh 2008 in India the algorithm used to drive ATM is Step1 Insert Card and enter PIN code Step2 Select Transaction type and amount Step3 Information sent to Authorizing central system Step4 Central system validates information 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 22 S Agholor Available at www AJOSSE com WGEOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJSOSSE VOL 3 SS
21. ted using the confirmation algorithm The Personal Identification Numbers PINs of the participants for this experiment were given to us We then perform various ATM transactions on the accounts of the 500 participants ranging from cash withdrawal to fund transfer between accounts since we were in possession of the PINS DATA ANALYSIS Statistical Package for Social Sciences SPSS version 17 was employed in the analysis of the data RESULTS AND DISCUSSION Gender Distribution of Participants Table 2 shows the gender distribution of participants In the Control Group 52 of the participants were males while 48 were females Similarly in the Experimental Group 54 of the participants were males while 44 were females Table 2 Gender Distribution of Participants Sex of Control Group Experimental Group Participants No of of Participants No of Participants of Participants Participants Male 130 52 140 56 Female 120 48 110 44 Total 250 100 250 100 ATM Transactions on the Control Group using the Existing Algorithm We performed two transactions that is cash withdrawal and fund transfer on the participants accounts using the existing ATM algorithms The results are presented in table 3 2014 AJOSSE ALL RIGHTS RESERVED 28 ISSN 1597 8774 S Agholor Available at www AJOSSE com 4GBOR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOLI ISSU Table 3 ATM Tr
22. then process transaction Send SMS to the account holder on transaction performed Prepare transaction reply TREPLY Send TREPLY to ATM Otherwise stop transaction and block account Send message transaction not permitted to the ATM Else send error message to ATM Step 3 ATM decodes TREPLY If TREPLY is successful then perform 30 else display error message goto 40 30 if cash request then cash is presented to the user Otherwise perform other request elseif information request then display on the screen or print on a receipt or both 40 Transaction confirmation TCONFIRM is sent to the authorizing system which include success or failure of the transaction END OF ATM TRANSACTION IMPLEMENTATION AND EVALUATION Conduct of Experiment An experiment was conducted using 500 participants via simulation since no bank was ready to allow us use their database In this experiment we call the bank XYZ Bank PLC and divided the participants into two equal groups of 250 each in both the Control group and the Experimental Group 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 27 S Agholor Available at www AJOSSE com s UR JOURNAL OF SCIENCE AND SCIENCE EDUCATION AJOSSE VOL 55 Hem It should be noted that the Control gro P simulation was done using the current ATM Banking Algorithm as well as the preventive measures put in place by the banks to prevent fraud in these accounts while the experimental group was simula
23. ximum ATM daily cumulative withdrawal put at between N60 000 00 and N100 000 00 depending on the bank 3 If you suspect a fraudulent withdrawal on your account text XX XNNN to the bank s dedicated phone number to block your account from further withdrawals where XXX Stop Block Deactivate with little variation such as STOPATM or STOP ATM etc depending on the bank NNN full account number or last three digits of your account number etc depending on the bank There are flaws in this arrangement put in place by the banks even though it helps to reduce ATM fraud They are 1 As good as the measures are it still allow the end user to part with their hard earned money to the fraudsters at least for the first transaction before the measure put in place can allow the end user stop further cash withdrawal from the account 2 It did not accommodate fund transfer which can sweep a huge sum of money before the end user could stop further transaction on the account DESIGN METHODOLOGY In this study we developed an algorithm to correct the flaws found in the literature We called this algorithm the Confirmation Algorithm for ATM Banking The algorithm is presented in section 3 1 The algorithm was tested alongside the existing algorithm The Proposed Algorithm for ATM Banking The architecture for the proposed algorithm is shown in figure 3 2014 AJOSSE ALL RIGHTS RESERVED ISSN 1597 8774 29 S Agholor Available at www AJOSSE com
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