Data Breach as a Threat in the Banking Sector and Steps to Avoid It

Priyanka Gowda, Ashwath Narayana Gowda

Abstract: Following the COVID19 pandemic, the frequency of cyberattacks has surged, significantly impacting the banking sector. This paper examines various types of cyber threats including phishing, malware, ransomware, insider threats, SQL injection, crosssite scripting XSS, maninthemiddle attacks, and unpatched software vulnerabilities. These threats pose significant risks to financial institutions by compromising sensitive information and disrupting operations. The role of software developers is critical in mitigating these risks through secure software development practices, including encryption, multifactor authentication, regular system upgrades, and the use of intrusion detection systems. This paper emphasizes the importance of a collaborative approach among software developers and stakeholders to safeguard banking systems against cyberattacks.

Keywords: cyberattacks, banking sector, phishing, malware, software security

How to Cite?: Priyanka Gowda, Ashwath Narayana Gowda, "Data Breach as a Threat in the Banking Sector and Steps to Avoid It", Volume 10 Issue 4, April 2021, International Journal of Science and Research (IJSR), Pages: 1412-1415, https://www.ijsr.net/getabstract.php?paperid=SR24801080845, DOI: https://dx.doi.org/10.21275/SR24801080845