banking sector busted because of data breach

In this alarming situation, organizations, especially financial institutes must pay attention to the security. It has also been witnessed that cyberattacks are growing rapidly as compare to few years back. The study has witnessed that there may be the lesser cases of cyberattacks on financial institutions but their impact is severe in terms of direct and indirect loss. Therefore, this study has undertaken to explore impact of cyberattacks on financial institutions.

Nothing is secure now and financial institutions are under a great threat. Cybercrimes as a technology disease are spreading very speedily in present era. The fact, cannot be hindered in any way that where technology facilitates intensively, can also be severely disastrous for financial institutions. Specially, it has given a great favor to the financial institutions by providing data storage, digital money, networking and many other online services. Cyber technology has taken the organizations above the heights of profits. Use of modern technology has geared up the business activities. Hailey College of Commerce, University of the Punjab, Pakistan Tel: 00923224153528 Email: for more related articles at Journal of Internet Banking and Commerce Abstract Hailey College of Commerce, University of the Punjab, Pakistan *Corresponding Author: NIDA TARIQ

Banking sector busted because of data breach