Enhancing Financial Security: A Cryptographi...

Enhancing Financial Security: A Cryptographic Approach to Dual Authentication

Author Name : Amarnadh Eedupuganti, Santhosh Katragadda

DOI: https://doi.org/10.56025/IJARESM.2025.080120034

ABSTRACT The financial sector has been at heightened risk from cyber-attacks in recent years, which further highlights the need for secure methods of authentication. Single-factor authentication tools are not enough to protect sensitive financial information and systems from unauthorized access. In this paper, we present a novel cryptographic model for dual authentication using 2FA and a modern cryptographic framework to strengthen security measures and secure financial transactions. In particular, the new methodology brings together symmetric and asymmetric encryption schemes with biometric authentication, offering enhanced security against several typical attack surfaces like phishing, man-in-the-middle (MITM), and credential stuffing. The method bolsters the integrity of financial systems and lessens the chances of illicit entry by implementing multi-layered authentication, namely something the user knows (password), something the user has (cryptographic token), and something the user is (biometric data). We evaluate the effectiveness of the proposed system through various simulations and show that it is resilient to both internal and external threats. Experimental results confirm that the proposed cryptographic dualauthentication framework guarantees a high level of security service while allowing for a smooth user experience in actual financial applications. Such an approach proves to be a promising solution for its growing challenges on financial security, thus ensuring confidentiality and trust in digital transactions