• Alexander aruldoss
• Sophia Rahaman

The development of digital technologies has brought numerous benefits, but it has also led to cyber-crimes, posing significant threats to people, organizations, and governments. As the digital landscape evolves, the challenge in balancing security and privacy becomes increasingly complex. In the swiftly changing digital economy, the banking industry confronts unparalleled cybersecurity challenges as it seeks to protect financial assets, customer information, and essential infrastructure. As cyber threats become more intricate and frequent, banks are making substantial investments in advanced security features such as multi-factor authentication, encryption, behavioral biometrics, and AI-based threat detection. Nevertheless, these advancements frequently lead to concerns regarding user privacy, compliance with regulations, and the ethical management of personal data. This paper explores the careful balance between providing strong cybersecurity and sustaining customer privacy within contemporary banking systems. It looks into the various types of cyberattacks typically aimed at banks—such as phishing, ransomware, and insider threats—and assesses the effectiveness of existing defense strategies. The paper also addresses the influence of international regulations like GDPR, PCI-DSS, and local data protection laws, on cybersecurity practices. Through case studies, industry evaluations, and expert interviews, this study presents insights into how financial organizations can improve cyber resilience while preserving public trust and transparency. The findings intend to provide a framework for securing both safety and privacy, emphasizing best practices that marry technological progress with ethical accountability in the banking sector.

Cyberattacks, Phishing, Ransomware, Cybersecurity, Security

"Cybersecurity in the Banking Sector: Balancing Security and Privacy in the Digital World", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 5, page no.g300-g340, May-2025, Available :http://www.jetir.org/papers/JETIR2505730.pdf

"Cybersecurity in the Banking Sector: Balancing Security and Privacy in the Digital World", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 5, page no. ppg300-g340, May-2025, Available at : http://www.jetir.org/papers/JETIR2505730.pdf