Cyber Security Threats in Banking Essay

Introduction

Bank robbery is among the crimes facilitated by knowledge and skills in IT that help people to hack bank accounts stealing enormous amounts of money, leaving banks in big debts and citizens losing money from personal accounts. The crime has lasted for many decades, and thieves just get wiser, which calls for better ways to protect banks from such thefts. The IT teams need to keep watching their networks with an aggressive spirit, taking the situation as if they have already been hacked, to avoid getting caught by surprise. Besides, banks ought to set broad security policies, updated as soon as new improvements arise. Such preparations set a clear path for the IT teams to uphold in continually protecting bank systems. Banks should set security policy enforcement that ensures that all protocol is followed all the time, to avoid giving the hackers any min of weakness or delay to have some control over their systems. One single failure or delay in keeping check of security protocol could be opportunity a bank hacker required to render the bank in total losses (Shields, 2015). This essay aims at outlining the various way of protecting banking systems and facilities, defense systems, and expensive and crucial equipment from cyber theft and other forms of cyber-attacks.

Defense Industry

Defense institutions around the globe have endless cases of loss of firearms, attack of the areas by criminals, and loss of classified data to the wrong hands. Network security techniques, cloud security, content defense mechanisms and application protection are some of the ways of securing the defense operators from cyber threats. Recently, security firms are integrating all the techniques, coming up with an elaborate form of protection that continuously shields them from cyber threats. They also have their IT teams continually working against worms and viruses that interfere with their online systems, ensuring that they are steps ahead of the hacking enemies. More investment should be input to conduct more research on new threats and techniques of the IT hackers to keep posted on current developments in the field (Harrop & Matteson, 2015).

Critical Infrastructure

Organized criminal groups tend to aim at critical infrastructure, which they access through the help of technology and internet cracking which make allows them to destroy, steal or control such facilities without raising any alarms or getting caught. Transport networks, electricity, water systems and financial institutions are among the essential infrastructure that can threaten a nation if their control falls into the hands of the enemy. Counter-terrorism teams and national protection teams contribute to defending the society from harm that results from cyber-attacks to critical infrastructure. Defense department should have extensive research and trends in the enemy ways to identify the target infrastructure before an attack occurs. Monitoring and management of all vital assets involve computerized IT methods to ensure that the enemy doesn't creep in unseen. Moreover, security teams need perfect ways of detecting, monitoring, sending warning alarms and responding to an ongoing cyber-attacks. A risk assessment must get assessed for all infrastructure and input the relevant precautions (Zhang, Z. (2013).

Conclusion

In conclusion, cyber-threats are the most current forms of insecurity in every form of business. Since everything is becoming technologized and set in online accounts sealed through passwords, cyber-threat is spreading everywhere. However, people are working every day to crack the passwords and patterns to disclose people's personal information and monetary savings, stealing and destroying their lives. The world deserves protection from such threats.

References

Harrop, W., & Matteson, A. (2015). Cyber resilience: A review of critical national infrastructure and cyber-security protection measures applied in the UK and USA. In Current and Emerging Trends in Cyber Operations (pp. 149-166). Palgrave Macmillan, London.

Shields, K. (2015). Cybersecurity: Recognizing the risk and protecting against attacks. NC Banking Inst., 19, 345.

Zhang, Z. (2013). Cybersecurity policy for the electricity sector: the first step to protecting our critical infrastructure from cyber threats. BUJ Sci. & Tech. L., 19, 319.