Study of internet security and related issues in banking industry

Abstract

The internet is the biggest innovation of the modern world. It has bridged the barrier of distances and has eased the process of banking, communication, research and marketing etc. However, it also has facilitated some of biggest crime in the world. The cybercrime which is defined as the criminal activities using the means of computer and internet is increasing at the unprecedented rate. The objective of the paper is to study the cybercrime happening in the banking industry and our focus is to study the modus operandi of the SWIFT messaging system with reference to the recent cybercrime like Bangladesh, Ecuador and Vietnam bank heist. In this paper, we will also study the recent tools and techniques used in the cybercrime in banking industry.