The web has changed our lives to a great extent. It has made everything possible with just a few clicks. Today, people use the web for many purposes like healthcare, education, banking, job search and so on. Banking has become very convenient, thanks to the presence of online banking. Through online banking, people can perform various bank transactions on their device. They do not have to go to the bank every time for this purpose. This is a very big change. Online banking became very popular as soon as it was introduced. 

Security Concerns

The perks of online banking came with its own insecurities. The shift of all the banking operations online also meant that all the sensitive data were also available online. Data that was of the reach of others is now online. This is very risks. Banks deal with a huge amount of their everyday transaction. The data from these banks are very important and should be kept away from the malicious people on the web. However, in the recent times, cyber attacks have become very regular. In many cases, the hackers get away with stealing huge amounts of money through these attacks. There are many types of attacks that have taken place in the recent times. This has brought forward some major concerns regarding IT security of the banks.

Cyber Security in online banking

Online banking became very popular as soon as it was introduced.

Secure Banking And IT Security Law

Customers and banks want online banking to be secure. With the online attacks by cyber criminals creating havoc, customers are apprehensive of performing transactions online. At such times, the law and order also has some responsibility. The laws for cyber crimes should be made stricter. The attackers should be caught and penalized in order to deter others from performing such crimes. As many people with malicious intents are online, it becomes difficult to keep the network and websites safe at all times. There are many ways in which such attacks can be carried out.These attacks usually result in the loss of a huge amount due to the illegal money transfer from the cyber criminals. The hackers hack into the database of the banks is transferring the money without leaving any trace. All this results in the customers and banks, feeling unsafe about their online data . Bank customers have also faced many such situations in which they have lost their life savings to such criminals. All this calls for action from the law. There are already special laws to tackle cyber crimes. These laws understand the type of crimes and their effects. However, with such attacks continuing in many parts of the world, it has become clear that the law is not enough for dealing with such criminals.

Problems In Implementing Cyber Laws

There are many problems in finding solutions to the problem of cyber attacks. The boundaries of the countries make it difficult to get cyber criminals arrested. It has happened many times that the cyber attacks have been carried out from different countries. This makes it an international case. The process of getting the cyber criminals is very slow in such cases. The international relations and many other complications result in the cyber criminals getting away with the crime. These criminals are at times protected by their home countries. In such cases, the negotiations and resulting handing over of the criminals takes a lot of time. This inefficiency in implementing the tough cyber laws causes a lot of problems. Hence, in spite of passing tough cyber security laws, nations and private organizations fail to benefit from them. The complexities of the attacks carried out also makes it difficult to nab the people behind them.

Cyber Security is an international case

The boundaries of the countries make it difficult to get cyber criminals arrested. But Cyber Security is an international case.

Taking Preventive Measures

The best way to solve this problem is to prevent it from happening. There are many advanced ways in which these attacks can be prevented. Banks often give the job of cyber security to private organizations that are experts in this field. These companies should keep an eye on the network and connections it has. There are many sophisticated software available that keep the network safe. The website used for carrying the bank transactions should be made secure.There should not be any way for the hackers to exploit the weaknesses of such websites. These websites should be constantly checked for any malware or other programs that can be dangerous in the near future. In most cases, the hackers understand the vulnerability of the website before attacking it and doing the crime. This can be stopped by making the website without any loopholes. With such a website, customers and banks can keep their data safe. There are many new technologies being introduced every year. These technologies make it difficult for the hackers to take control of the websites. Website designers and network engineers should use such advanced technologies to keep their websites and networks updated. With such advanced techniques, hackers will find it difficult to hack into the website and do the damage.

Guidelines For Banks

There are certain guidelines that the banks should follow if there has been an attack. They should analyze and find out how the attack happened. This can prevent the same type of attack in the future. Any kind of shortcoming can be excluded from the network with this analysis. Banks should be on their toes to be at par with the techniques used by the hackers to break into their networks. With the use of modern systems and software, they can prevent a big attack and keep their networks safe. With an up-to-date website and software, banks can prevent such attacks. Outdated systems become an easy target as hackers are aware of their vulnerabilities. Banks, law enforcement and customers should work together in order to prevent such big cases of cyber crimes from happening. With proper knowledge and precautions, people can stay safe from hacking attacks. With proper knowledge, these cyber attacks can be prevented. Overall, the big issue of cyber security should be dealt with cooperation from all spheres of the society.

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