Multi-Factor Authentication for Secured Financial Transactions in Cloud Environment

The rise of the digital economy and the comfort of accessing by way of user mobile devices expedite human endeavors in financial transactions over the Virtual Private Network(VPN)backbone.This prominent application of VPN evades the hurdles involved in physical money exchange.The VPN acts as a gateway for the authorized user in accessing the banking server to provide mutual authentication between the user and the server.The security in the cloud authentication server remains vulnerable to the results of threat in JP Morgan Data breach in 2014,Capital One Data Breach in 2019,and manymore cloud server attacks over and over again.These attacks necessitate the demand for a strong framework for authentication to secure from any class of threat.This research paper,propose a framework with a base of EllipticalCurve Cryptography(ECC)to performsecure financial transactions throughVirtual PrivateNetwork(VPN)by implementing strongMulti-Factor Authentication(MFA)using authentication credentials and biometric identity.The research results prove that the proposed model is to be an ideal scheme for real-time implementation.The security analysis reports that the proposed model exhibits high level of security with a minimal response time of 12 s on an average of 1000 users.

The information content of financial survey response data

Market data for financial studies typically derives from either historical transactions or contemporaneous surveys of sentiment and perceptions.The research communities analyzing data from these opposing categories of source data see themselves as distinct,with advantages not shared by the other.This research investigates these latter claims in an information theoretic context,and suggests where methods and controls can be improved.The current research develops a Fisher Information metric for Likert scales,and explores the effect of particular survey design decisions or results on the information content.A Fisher Information metric outperforms earlier metrics by converging reliably to values that are intuitive in the sense that they suggest that information captured from subjects is fairly stable.The results of the analysis suggest that varying bias and response dispersion inherent in specific surveys may require increases of sample size by several orders of magnitude to compensate for information loss and in order to derive valid conclusions at a given significance and power of tests.A prioritization of quality of design,and the factors relevant to survey design are presented in the conclusions,and illustrative examples provide insight and guidance to the assessment of information content in a survey.

Non-Value-Added Tax to improve market fairness and quality

The promotion of both market fairness and efficiency has long been a goal of securities market regulators worldwide.Accelerated digital disruption and abusive trading behaviors,such as the GameStop mania,prompt regulatory changes.It is unclear how this“democratization”of trading power affects market fairness as economies cope with pandemic-driven shifts in basic systems.Excessive speculation and market manipulation undermine the quality of financial markets in the sense that they cause volatil-ity and increase the pain of bubble and crash events.Thereby,they weaken public confidence in financial markets to fulfill their roles in proper capital allocation to irrigate the real economy and generate value for society.While previous studies have mostly focused on market efficiency,our study proposes a tool to improve market fairness,even under periods of stress.To encourage value generation and improve market quality,we advance a graduated Non-Value-Added Tax that we implement in an agent-based model that can realistically capture the properties of real-world financial markets.A profitable transaction is taxed at a higher rate if it does not enhance the efficiency measured by deviation from fundamentals.When an agent locks in profit not supported by fundamentals but driven by trend-following strategies,the generated profit is taxed at various rates under the Non-Value-Added Tax regime.Unlike existing financial transaction taxes,the non-value-added tax is levied on profit rather than on price or volume.We show that the proposed tax encourages profitable trades that add value to the market and discourages valueless profit-making.It significantly curtails volatility and prevents the occurrence of extreme market events,such as bubbles and crashes.