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Back in time, bank theft was the biggest threat and to this date, cyber fraud got into the nerves of servers in no time. Well, the evolution in technology, indeed brought the radical change in the perspectives of the attackers to another level! But it’s time for cyber security to indemnify systems in banking for the fact that the personal information of the customers has become the personal interest of the attackers.

The need for cyber security is obvious to safeguard the assets of the customers relying on the banks for the service of cashless transactions and credit scanners. The threat isn’t any far where the personal information can be redirected to other geolocations to carry out malicious deeds. Regardless of which, the criminal thoughts wouldn’t end unless we defend it. It either exploits the reputation of the banks for the customers to trust or otherwise the banks have to invest billions of money to release the personal information. 

Mobile apps: With digitization, we no longer use cash and probably carry all the transactions on mobile applications with less secure passwords that can be hacked easily. The bank applications are required to employ an impactful secure system to address this situation of activities that have high probabilities.

Crypto Currencies: The trending fund other than the standard ones are gaining much attention because of the unpredictable rise in the value of their existence and it’s not surprising to know that attackers are an enthusiast of stealing these valuable currencies. Access to the less secured systems has come with ease because of the uncertainty of the way to secure these currencies by the banking sectors. 

If these criteria don’t call for ethical hackers then what does? This is where the demand for highly secured systems comes into play and is incomplete without the team of Cyber security. Don’t you think, that’s how they pitch in great value in banking?

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Ami Shet