Author(s): Vandana Sharma
Countering cyber threats to the payment and banking system has emerged as a global challenge. This trend has compelled financial establishments to integrate risk into their operational models. Consequently, there is a pressing need to invest in advanced technologies and security protocols to counteract potential substantial financial losses and the compromising of sensitive information due to cyber assaults. The escalating prevalence of cybercrime poses a significant apprehension for various stakeholders within the financial realm. Typically, cyber-attacks are orchestrated through software systems operating within the digital domain. Thus, it is imperative to identify entities within the digital sphere and subsequently isolate threats to application security. This entails scrutinizing vulnerabilities and formulating defensive strategies. This study aims to explore diverse methodologies that identify digital assets, categorize cyber threats, establish security countermeasures, and align security strategies with different types and functionalities. By selecting suitable approaches to address security threats and defenses, IT professionals and users can collaboratively make informed choices to fortify a robust defense mechanism.
View PDF