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The financial sector across the globe ensures sustainable growth in the economy by mobilizing investments, funds, and savings. This chapter attempts to comprehend the current state of cybersecurity within the financial services industry worldwide. The chapter explores the different aspects of global cyber-attacks in financial sectors to elucidate the salient problems, issues, threats, safeguards, and solutions. As technology is progressing, highly technology-savvy criminals are becoming a new threat in the cybercrime space. The entire industry needs an intense transformation to create innovative, state-of-the-art information, and an up-to-date architecture of cybersecurity that is capable of confronting the continuous tides of cyber-attacks and data breaches on an everyday basis. The use of security tools like proxy servers, firewalls, multi-layered email strategy, virus security software, and effective governance strategies are necessary to protect financial sectors from cyber threats and attacks.

The internet of things (IoT) is proving to be a seminal development amongst this century's most productive and pervasive high-tech revolutions. Increased reliance on the internet of things (IoT) is one of the foremost trends, and the financial services industry is a major contributor to that trend. IoT's influence on our daily lives is noteworthy, and it has become imperative for financial services organizations to evolve to adapt to these changes. Digital devices have started to interconnect with each other and possibly with other peripheral entities. Owing to the explosion of these devices and digitization in the banking and financial services industry, businesses are discovering the possibility of IoT in finance to control data and to minimize the risk. This chapter focuses on the impact of internet of things on financial services. It discusses the various applications, trends, challenges, and risks associated with adoption of IoT by financial services institutions. This chapter also discusses Indian and global cases of application of internet of things by financial services institutions.