Online users now make use of internet banking as a major platform of making payments of products online. Cybercriminals are using newer and more advanced methods to target online users. Attacks ranging from reverse social engineering called Phishing; whereby spam messages are sent to customers’ emails consisting of links then to fake websites to Trojans that are installed in the user’s computer system without his knowledge which monitors the customer’s financial transactions on his account which are later used for financial gain which ultimately results in loss of financial funds for affected victims. One of the fastest growing threats and attacks in the world today is Man-in-the-Browser (MITB) attacks. MITB attacks are a specialized and upgraded version of Man-in-the-Middle (MITM) attack whereby it installs itself on the user’s PC without the user’s concept through internet usage then steals data authentication details and alters legitimate user transactions for the attacker’s benefit. As the advance in technology continues to influence the way society makes payment for goods and services, then more advanced security approach is required for transaction verification on the internet. This paper proposes a more secure authentication for online transaction using Anti-Form Grabbing technique with Email Verification service.

Internet banking Man-in-the-Middle attack Man-in-the-Browser attack and authentication.