Published Paper Details:

Financial institutions, because to their possession of substantial amounts of sensitive financial data and assets, are frequently targeted by hackers. The success of the financial business relies heavily on the maintenance of regulatory compliance, safeguarding sensitive consumer data, and verifying the authenticity of financial transactions. Financial institutions must maintain ongoing vigilance and develop robust defenses due to the ever-changing nature of the cybersecurity landscape. Neglecting to do so might lead to substantial legal obligations, financial setbacks, and damage to one's reputation. To ensure consumer confidence and safeguard financial transactions, the banking industry must continue to make substantial investments in cybersecurity. This research study examines recent significant cyber security incidents and the various sorts of cyber threats that different sectors have encountered. Financial institutions must adhere to legislation that mandates the use of preventive measures, such as authentication technologies, in addition to fulfilling the requirements and responsibilities set by regulatory authorities. Regarding the utilization of machine learning and algorithmic predictive modelling for activity identification, the significance of educating staff members is becoming evident, alongside the implementation of awareness initiatives and programs.