Study on Cybersecurity Challenges in Online Banking Systems

Author(s)	Ms Tasneem R, Mr Jaden Thomas Johan, Mr Abijith Joby, Mr Jeevan Hari BS
Country	India
Abstract	Online banking has completely changed the way people manage money. Today, customers can transfer funds, pay bills, check balances, and invest using mobile apps or websites without visiting a physical bank branch. While this digital transformation has made banking faster and more convenient, it has also increased the risk of cyberattacks. Banks store highly sensitive information such as personal identity details, financial records, and transaction data, making them attractive targets for cybercriminals. This report explains the major cybersecurity challenges faced by online banking systems, including phishing, malware, ransomware, insider threats, and cloud-related risks. It also discusses modern security solutions such as encryption, firewalls, multi-factor authentication (MFA), Artificial Intelligence (AI), and blockchain technology. Finally, the report provides practical recommendations to improve the safety and resilience of digital banking systems.
Keywords	Online Banking, Cybersecurity, Phishing, Malware, Ransomware, AI, Blockchain, Data Protection
Field	Business Administration
Published In	Volume 8, Issue 5, September-October 2026
Published On	2026-09-29

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