Role of cyber security in ensuring safety and security of data in financial institutions

Abstract

Lots of banks and other financial institutions are under great cyber-attack risk. Mass digitalization is good things for this line of business but it has also put them under the radar of many hacker groups both inside and outside of Bangladesh. Creating cybersecurity awareness is necessary to help the companies from benign a cyber-attack victim. The company might put necessary software’s to stop the attacker from directly entering in the system but if the people working there not aware about cyber risks the attacker can gain access through them. Companies and banks are under the risk of cyber-attack, but the reality is that around 240 financial institution and government organization have been under major cyber-attacks in the recent years. A BGD e-Gov CIRT report states that,” organizations have seen distributed denial-of-service (DDoS) cyber-attacks during its regular monitoring. Most of the ministries, including the foreign ministry, have witnessed the attacks”. So, making people aware about cybersecurity is very important to ensure a safer work place.