FUNDAMENTALS OF COMPUTER

Detailed explanation-1: -Data breaches can make it difficult to trust financial institutions. For banks, that’s a serious problem. A weak cybersecurity system can amount to data breaches that could easily cause their customer base to take its money elsewhere. You often tend to lose time and money when a bank’s data is breached.

Detailed explanation-2: -Cyber attacks can cause electrical blackouts, failure of military equipment, and breaches of national security secrets. They can result in the theft of valuable, sensitive data like medical records. They can disrupt phone and computer networks or paralyze systems, making data unavailable.

Detailed explanation-3: -A cyberattack that affects data at multiple large financial institutions could lead to a broad loss of confidence in the security of the financial sector. If the institutions’ data are corrupted during the attack, the recovery process could be extensive.

Detailed explanation-4: -Common Cyber Threats For Banks Phishing is a leading delivery vector for malware and is also commonly used to steal login credentials and other sensitive information. Distributed Denial of Service (DDoS): In a DDoS attack, many infected computers are used to make spam requests to an organization’s systems.