E-cash is a paperless cash system which facilitates the transfer of funds anonymously. E-cash is free to the user while the sellers have paid a fee for this. The e-cash fund can be either stored on a card itself or in an account which is associated with the card. The most common examples of e-cash system are transit card, PayPal, Google Pay, Paytm etc. In e-cash, we stored financial information on the computer, electronic device or on the internet which is vulnerable to the hackers. Some of the major threats related to e-cash system are-
Backdoors Attacks: It is a type
of attacks which gives an attacker to unauthorized access to a system by
bypasses the normal authentication mechanisms. It works in the background and
hides itself from the user that makes it difficult to detect and remove.
Denial of service attacks: A denial-of-service attack (DoS attack) is a security attack in which the attacker takes action that prevents the legitimate (correct) users from accessing the electronic devices. It makes a network resource unavailable to its intended users by temporarily disrupting services of a host connected to the Internet.
Direct Access Attacks: Direct access attack is an attack in which an intruder
gains physical access to the computer to perform an unauthorized activity and
installing various types of software to compromise security. These types of
software loaded with worms and download a huge amount of sensitive data from the
target victims.
Eavesdropping: This is an unauthorized way of listening to private
communication over the network. It does not interfere with the normal operations
of the targeting system so that the sender and the recipient of the messages are
not aware that their conversation is tracking.
