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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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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. Distributed denial of service (DDoS) prevention: Tools that protect the site from crashing under the strain of DDoS attacks.

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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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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. DDoS (denial-of-service attack) – a type of a cyber attack which makes the site user wants to visit unusable by flooding it with malicious traffic. It can be a password, a fingerprint, a face scan.