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Cyber Security in Banking: Threats, Solutions & Best Practices

eSecurity Planet

From personal information like Social Security numbers and addresses to sensitive financial details, banks store a treasure trove of data that, if compromised, can lead to identity theft, fraud, and significant financial loss for individuals. Cyber security plays a crucial role in safeguarding this information from unauthorized access.

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The role of cybersecurity in financial institutions -protecting against evolving threats

CyberSecurity Insiders

Financial institutions face a range of cybersecurity threats, including phishing attacks, malware, ransomware, and denial of service ( DDoS ) attacks. These threats can result in the theft of sensitive customer data (PII), financial fraud, and reputational damage. Sometimes theft of PII can lead to identity theft too.

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What Is The Dark Web?

Cytelligence

While the dark web has many legitimate uses, such as providing a platform for political dissidents and whistleblowers to share information safely, it is also a breeding ground for illegal activities such as drug trafficking, hacking, and identity theft. As a result, it poses a significant threat to consumers and businesses alike.

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Understanding Cybersecurity

SiteLock

With database access, thieves can use the data to commit fraud, blackmail, extortion, identity theft and to turn a quick profit by selling it to other criminals on the dark web. Virtual private networks (VPNs) encrypt traffic to and from the organization’s network when employees are working remotely. Network security.

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Cybersecurity Risks in IoT and Fleet Management Systems

IT Security Guru

The mitigation strategy should include strong access controls, encryption, and intrusion detection to prevent attacks on vehicle systems. A data breach could result in the disclosure of this information to hackers who may then commit identity theft, fraud or other illicit activities.

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Application Security: Complete Definition, Types & Solutions

eSecurity Planet

Also read: Database Security: 7 Best Practices & Tips Use better and unique passwords to protect your data from breaches, reduce identity theft, and better protect sensitive and personal information. CNAP provides encryption, access control, threat detection and response features for enhanced security.

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45 Main Cyber Security Terms Everyone Must Know

Spinone

Backup – a copy of physical or virtual data so in case they are being deleted or lost user could easily recover it. Data encryption – a way to secure private information by encoding it so no third parties could watch or access it. To read the encoded (encrypted) file, you must decode it by using a decryption key.