After completion of this module the learner can:-

1.1: Analyze how threats and risks to traditional banking and finance platforms and emerging financial impact internal business resilience.

Definition:

• Cyber Security is “the security of information and its communicating channels as applied to computing devices such as computers and smartphones, as well as computer networks such as private and public networks, including the Internet as a whole.”

• The field covers all the processes and mechanisms by which computer-based equipment, information and services are protected from unintended or unauthorized access, change or destruction.

• Computer security also includes protection from unplanned events and natural disasters.

• Cyber security is a complex issue that cuts across multiple domains and calls for multidimensional, multilayered initiatives and responses.

Cyber Security In Banking

• The arrangement of technologies, protocols, and methods referred to as "cyber security" is meant to guard against attacks, damage, malware, viruses, hacking, data theft, and unauthorized access to networks, devices, programs, and data.

• Protecting the user's assets is the primary goal of cyber security in banking. As more people become cashless, additional acts or transactions go online. People conduct transactions using digital payment methods like debit and credit cards, which must be protected by cyber security.