Cyber Security in Banking Sector

Cyber Security in Banking Sector

Cyber Security in Banking Sector The banking sector has been under attack for hundreds of years. First, it was the physical theft of monies. Then it was computer fraud. Today, it's not only cyber fraud but hacks into servers to obtain a customer's personally identifiable information (PII). Hence, the reason why cyber security in banking is of utmost importance. As individuals and companies perform most transactions online, the risk of a data breach increases daily. Cyber Security in Banking Cyber security refers to the organization of technologies, procedures, and methods designed to prevent networks, devices, programs, and data from attack, damage, malware, viruses, hacking, data thefts or unauthorized access. The main objective of Cyber security in banking is to safeguard the user's assets. As individuals go cashless, further actions or transactions are done online. Individuals use their digital money like debit cards and credit cards for transactions that require to be saf…