Secure ATM Using Card Scanning Plus OTP

Download Document/Synopsis
Our project proposes a secured ATM (Any time Money) system using a card scanning system along with Otp password system on sms for improved security. Usual ATM ssystems do not contain the OTP feature for money withdrawal. If an attacker manages to get hold of ATM card and the pin number he may easily use it to withdraw money fraudently. So our proposed system supports the ATM card scanning system along with an OTP system. Ths user may scan his card and login to the system .But after user is through with this authentication he may view details but is asked to enter OTP as soon as he clicks money withdrawal option. At this stage the system generates and sends a One time password OTP to the registered mobile number to that particular user. The password is generated ad sent to the user mobile phone. He now needs to enter the OTP in the system in order to withdraw money. Thus our system provides a totally secure way to perform ATM transactions with two level security structure.


Advantages
  • The system improves the security of ATM’s.
  • Use of OTP provides second level of security.
  • The system is cost effective and cheaper then usual ATM systems.
  • New card requires less time for creation.

Disadvantages
  • If card is lost there is no way to interact with system.
  • Needs a security guard at ATM center.
  • OTP may take time to be recieved on mobile.

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