Contemporary Security Threats

Abstract

Online transactions have increased abruptly during the COVID-19 pandemic. In recent years, the expansion of easy banking in Bangladesh has become necessary, particularly when banks do not have sufficient branches in Bangladesh's rural areas. This research provides a quick overview, a managerial framework of cybersecurity, and several potential threats that might significantly affect the security of online monetary transactions by giving some important ways. The authors explore contemporary scamming strategies used by cybercriminals and the impact of such scams on the financial sector. In addition, this chapter presents a way to mitigate these concerns by inflexible banking, provides a quick overview of the current automated teller machine (ATM) fraud, and offers potential solutions to avoid these attacks. Furthermore, the authors examine the consequences of banking fraud and identify possible research avenues where researchers could focus their efforts on benefit.