ANALYZING CYBERCRIMES AND CYBER SECURITY LANDSCAPE IN THE BANKING SECTOR OF INDIA

Sagar Sharma; Monali Chouhan; Aishwarya Bhardwaj

doi:10.29121/shodhkosh.v5.i1.2024.2747

Authors

Sagar Sharma Research Scholar, Department of Banking and Business Economics, UCCMS, Mohanlal Sukhadia University, Udaipur, Rajasthan.
Monali Chouhan Research Scholar, Department of Banking and Business Economics, UCCMS, Mohanlal Sukhadia University, Udaipur, Rajasthan.
Aishwarya Bhardwaj Research Scholar, Department of Banking and Business Economics, UCCMS, Mohanlal Sukhadia University, Udaipur, Rajasthan.

DOI:

https://doi.org/10.29121/shodhkosh.v5.i1.2024.2747

Keywords:

Cyber Security Measures, Banking Sector, Financial Institutions, Cyber-Attacks, Cyber Threats, Indian Banking Sector, Phishing, COVID-19

Abstract [English]

Since the onset of COVID-19, the banking sector has been completely digitalized, in terms of both back-end and front-end operations. With the emergence of latest technologies, the incidence of cyber-attacks is constantly increasing . Most of the banking institutions are online it has caused ransomware, phishing attacks, privacy concerns, and other risks. Both online and mobile services lack in strong security measures and cyber threats are getting more common. The banking sector always remains on the radar of cybercriminals for financial benefits.
This paper studies the devastating effect of cybercrime in the Indian banking sector, existing cyber security landscapes to curb the effects of cyber threats, and measures to protect the Indian banking sector. The study is based on secondary data collected from various online sources, articles, research papers, government portals, news sites, etc. It is also required for case studies of cyber crimes that have led to significant financial loss in recent years. This paper will look into cyber security measures that will help financial institutions, banks, and society by dealing with cyber-attacks that can be prevented for better security.

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