Abstract

The banking sector has progressed for more than a decade for increased consumer interest towards utilisation of transaction services through ATM machines, pay orders, demand drafts, cheques and online transactions. Most of the transactions and data access has been made possible by utilisation of internet services, applications and computing technology. However, the cyber attacks have increased at the same time, using different techniques and methods due to which the identities and financial assets of the consumers have not remained safe. Different countries have developed policies and frameworks to ensure the safety of the assets which is beneficial for the government, organisations and people. Since the private sector sometimes does not give careful attention to the system’s security, they have to face cyber attacks.

The focus of the research is to carry out vulnerability testing for which the website has been formed, and the traffic has been analysed. The Wireshark software has been utilised to detect different types of vulnerabilities. The results show that the tool has been able to detect different types of vulnerabilities up to 100%, except PING which is 50%, and XSS, as well as SQL Inject, which are less than 50%.

After the security audit, the organisational framework has been suggested which involves three different layers of, securing the assets and their categorisation, detecting the threats at different levels, and categorisation of the attacks for which exploitation, detection, and control measures are to be taken. In addition to that, the networking framework has been suggested for the cyber expert to monitor, update and control the user activities to save the network from malicious activities. The implementation of both the networks will reduce the cyberattacks and save the banking network from any vulnerabilities

Prevention of malicious activities in banks and their prevention by utilisation of framework practices and security policies