DSU Acquiring Model Online Bank for Information Assurance Research
Dakota State information assurance faculty have recently been awarded a National Science Foundation (NSF) grant of $400,000 for acquiring an online banking system to promote information assurance research and education in the banking sector.
While online banking makes it more convenient to manage financial activities, security threats are becoming even greater because the money is stored on and moved around on an untrustworthy Internet environment. In 2008, for example, a research group at the University of Michigan examined the web sites of 214 U.S. financial institutions and found that 76 percent of them suffered from at least one design flaw.
The online banking system to be acquired will serve as a model online bank in the National Center for the Protection of the Financial Infrastructure. It will enable various research and education activities. Sample research projects include: threat modeling and verification of online banking software; security testing of online banking software, aiming at a cost-effective technique for automated security testing; forensic readiness of online banking and better preparation for the investigation of unforeseen intrusions and frauds; and security requirement analysis of online banking. These projects will lead to novel techniques for the in-depth defense of online banking applications, ranging from prevention and detection of potential attacks to forensics investigation of security incidents.
The project team consists of Dr. Dianxiang Xu, Dr. Manghui Tu, Dr. Joshua Pauli, and Dr. Kevin Streff.