Cyber security in Banking Sector

Gone are the days when people used to be in a line to withdraw or deposit their money in banks. Now within few clicks you can do any transaction or any work related to bank even on your smartphone.

But as coin has two sides, so does technology. 

The banking sector is under threat from its existance. Earlier their were physical, actual thieves who would rob the bank but now there ie no need of any physical harm. Now hackers enter in the banks network and hack into the system and collect customer's personal information. So Cybersecurity is very important in the banks.

The main agenda of having cyber security in banks is protecting customer's vital, personal information such as account number, transaction details,etc. Nowadays all the work of bank is done on computers. Almost all banks today have their app which its customers use for transaction. The customers can easily access all the services provided by the bank within seconds.If in any case their account is hacked, then it will surely impact the customer, but it will also impact the bank as the bank will have to pay millions of dollars to release information. In turn bank will lose the trust and will result in bankruptsy.
Banks need to be on their guard more than most businesses. That's the cost holding onto the kind of valuable personal data that banks do. Your data with the bank canbe breached if not protected.

How to safegaurd your bank account

• Choose a  bank with actual good customer service.(Some banks try to show off)

•  Use 2 way authentication and strong passwords.

• Dont login to bank account from any other device.

• Never share any baking information with anyone such as passwords, account number, pin,etc.

• Monitor auto payment and limit withdrawls.

• Stay vigilant.  

Stay secure always!