Ransomware Attack Analysis on Banking Systems

Since banking industry is very important to global economy, and the issue of cybersecurity is predominant a major concern. Banks help customers store and use their money at any given time, mobile banking has become the most preferred banking method internationally due to its simplicity and popularity of mobile technology. So, the issue of securing financial institution globally has been part of national security and cyber security is the act of defending computers, networks, servers, electronic systems, data and mobile devices from malicious attacks. This article aims to identity various security threats and means securing financial institution against any ransomware attacks. This article also investigates three case studies of ransomware based on qualitative research, and proposes future work on securing cyber banking system against ransomwares attack, and securing user assets through security guidelines.