A Study on Emerging Cybersecurity Threats, Challenges and Mitigation Practices in E-Banking

This study examines the rapidly evolving cybersecurity threats and fraud in
banking, driven by advancements in Artificial Intelligence, automation, and deepfake
technologies. It looks at how advanced cyberattacks like AI-powered phishing,
ransomware, and synthetic identity fraud affect banks and their customers. The study
assesses the efficacy of existing mitigation techniques, including device binding,
data privacy policies, and AI-driven fraud detection, through surveys and interviews
with 150 e-banking customers and cybersecurity experts. The study finds disparities
in people’s knowledge and readiness, which are affected by things like age and gender.
Suggestions are made for adaptive security programs that will make digital banking
safer, build client trust, and make the system more resilient.