Manifestation of Cyber Assurance in the Financial Periphery: A Subjective Study of Its Impact on Digital Dealings

Authors

  • Das R Post Graduate Student, Dept. of Commerce, University of Calcutta, INDIA
  • Paul S Post Graduate Student, Dept. of Commerce, University of Calcutta

Keywords:

Cyber Safety,, Digital Dealings, Risk Mitigation, Vulnerabilities, Cyber Illiteracy.

Abstract

With the rapid digitization of banking and financial services, ensuring robust cybersecurity measures has become imperative to safeguard sensitive customer data and financial transactions. This study explores the effective implementation of cybersecurity practices in the banking and financial environment, specifically focusing on a money transfer application. The objective is to analyse the various security challenges faced by financial institutions and devise strategies to mitigate cyber threats, thereby promoting a secure and reliable money transfer system. The study proposes a layered approach to cybersecurity, encompassing technical, organizational, and user-oriented measures. Through this research, financial institutions and stakeholders gain insights into the significance of cybersecurity in the banking and financial environment. The findings provide practical guidelines for the development and implementation of robust cybersecurity measures in money transfer applications, ensuring the integrity, confidentiality, and availability of financial transactions. Ultimately, the study contributes to the creation of a secure and trustworthy banking ecosystem, fostering customer confidence and supporting the growth of digital financial services.

References

• Al-alawi, P. A. I. (2020). The Significance of Cybersecurity System in Helping Managing Risk in Banking and Financial Sector. Journal of Xidian University, 14(7).

• Alghazo, J. M., Kazmi, Z., & Latif, G. (2018). Cyber Security Analysis of Internet Banking in Emerging Countries: User and Bank Perspectives. 4th IEEE International Conference on Engineering Technologies and Applied Sciences, ICETAS 2017, 2018-January (November 2018), 1-6 https://doi.org/10.1109/ICETAS.2017.8277910

• Marshall, P. J. (2010). Online Banking: Information Security vs. Hackers Research Paper. International Journal of Scientific and Engineering Research, 1(1), 1-5 .https://doi.org/10.14299/ijser.2010.01.001

• Ojeka, S. A., Ben-Caleb, E., & Ekpe, I. (2017). Cyber Security in the Nigerian Banking Sector: An Appraisal of Audit Committee Effectiveness. International Review of Management and Marketing, 7(2), 340-346.

• Rajendran, V. (2018). Security in Banks. The Journal of Indian Institute of Banking and Finance, 89(01), 26–32.

Weblinks

• https://www.sancharsaathi.gov.in/

Downloads

Published

2024-05-02

How to Cite

Das, R., & Paul, S. (2024). Manifestation of Cyber Assurance in the Financial Periphery: A Subjective Study of Its Impact on Digital Dealings. Journal of Academic Advancement, 2(01), 14–23. Retrieved from https://jaa.kbsaa.org/index.php/j/article/view/14

Issue

Vol. 2 No. 01 (2023): Jan-Jun

Section

Research Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Research Articles in 'Journal of Academic Advancement' are Open Access articles published under the Creative Commons CC BY License Creative Commons Attribution 4.0 International License http://creativecommons.org/licenses/by/4.0/. This license allows you to share – copy and redistribute the material in any medium or format. Adapt – remix, transform, and build upon the material for any purpose, even commercially.