Cryptography methods in protecting financial transactions

The security of financial transactions has become a critical concern due to the escalating frequency of cyberattacks, which have led to substantial financial losses among users. To address these challenges, banks increasingly rely on cryptographic methods to ensure the security and confidentiality of sensitive data. This paper presents a comprehensive study of existing cryptographic techniques, offering a comparative analysis of their effectiveness and limitations. Furthermore, it explores the development of novel approaches aimed at enhancing the security of financial transactions. The article delineates the theoretical underpinnings of cryptography, provides an in-depth analysis of current methodologies, and discusses their practical applications within the banking sector.