CYBERSECURITY CHALLENGES IN DIGITAL BANKING

CYBERSECURITY CHALLENGES IN DIGITAL BANKING
Author(s):
Dr.C.Mallesha, Peddholla Sai Kiran
Keywords:
Banking Industry, Fraud, Prevention, Security, phishing, malware attacks
Abstract
The rise of digital banking has revolutionized finance, offering convenience and accessibility. However, it has also brought significant cyber security challenges. Digital banking relies on interconnected networks, online platforms, and mobile apps, creating a larger attack surface for cybercriminals. Safeguarding customer information is a primary challenge, as cybercriminals use techniques like phishing and malware to gain unauthorized access. Data breaches and identity theft incidents worsen the risks. Financial fraud prevention is another key challenge, with cybercriminals refining tactics to exploit vulnerabilities in payment systems and authentication methods. Maintaining service integrity and availability is also a challenge. To address these, institutions need multi-factor authentication, encryption, regular audits, employee training, and incident response plans. Collaboration with regulators and cyber security experts is crucial. The study focuses on describing cyber fraud types and reasons, as well as awareness among individuals is done through questionnaire.
Article Details
Unique Paper ID: 161146 Publication Volume & Issue: Volume 10, Issue 2 Page(s): 833 - 837
Article Preview & Download

Share This Article

NCSEM 2024

National Conference on Sustainable Engineering and Management - 2024

Last Date: 15th March 2024

IJIRT.org enables door in research by providing high quality research articles in open access market.

Send us any query related to your research on editor@ijirt.org