Cyber Security Threats on Digital Banking

Digital banking is the new form of banking that involves using the internet and mobile applications and excludes the use of pen and paper. One of the main issues that are associated with the form of banking is the presence of several forms of security risks. These risks are caused due to criminal activities of hackers and fraudsters who aim to steal people's money. Therefore, an efficient security system that involves multiple verifications, authentication processes, and data encryption are needed to combat such a threat. There has been much other work about this topic by other authors. By analyzing the finding from all of these sources, the STUDY has found that cyber security threats are a major problem in digital banking. Most people are not even aware or concerned about this matter. The research has used a theoretical analysis method involving secondary information sources. The research has also been able to bring out some hypotheses about this topic which it has also been able to support by using the statements and graphical charts given by other authors in their previous works about this topic. The research topic is interesting and can be used to do further research in the future.