Cyber Security Issues Affecting Online Banking Transaction: A Thematic Analysis

Abstract

The cyber security concerns influencing online banking transactions are the subject of this
investigation. Cybercrimes are increasing as a result of the technology's rapid growth and
widespread application in numerous industries. Online banking sectors, which include
several firms, are dealing with cyber security and data breach challenges. The study of
numerous technologies and methodologies used in the creation of complicated software is
aided by modern computer technology. In one step, modern computing techniques can tackle
problems that were challenging for traditional computing methods. They offer a new method
for performing calculations. Modern computing techniques are used to create specific types
of computer security techniques. Modern computing systems employ a variety of
cryptographic strategies to address cyber-related problems. The largest banking system,
accepted by billions of users worldwide, is mobile banking. Due to their lack of
understanding, some consumers are unsure whether to accept. These days, mobile banking
is thriving in the majority of developing nations thanks to its low maintenance costs and
convenient internet connectivity. Most consumers attempt to communicate with their
money from any location in the world. The greatest way to satiate this demand is through MBanking. Customers can use the internet to access their bank accounts. It was also discovered
that many customers occasionally need to sign in to their accounts from different devices.
With so many devices logging in, hackers may be enticed to use the login history to log in.
These days, mobile banking also has some positive societal consequences in the areas of
governance, healthcare, agriculture, and education.