198

N. Surekha et al.

Fig. 7 BCT enabled shared identity management ledger system

borrower over the years. The consumer’s data protection is also ensured since the

customer, whose information needs to be accessed, will grant access to the required

data by using the private key.

4.6

Reduction of Fraud

Unlawful appropriation of any property including money with the intention of deceiv-

ing others is called fraud. If such frauds are committed on the internet, it is called

cyber fraud. The banking industry is prone to malicious damages in fraud and cyber-

attacks that have raised many concerns in the recent past ever since the industry

embraced IoT that surged the banking activities into digital mode. Currently prevail-