The main positive trend in online banking security in 2018 is the reduced percentage of high-severity vulnerabilities. As individuals and companies perform most transactions online, the risk of a data breach increases daily. Online banking has steadily become a convenient and popular option for many people to manage their finances, and it's easy to see why. Without solid cyber security measures in place, your bank’s sensitive data could be at risk. Here are the five biggest threats to a bank’s cyber security. But with great power comes great responsibility, right? In 2018, this threat was present at 54 percent of online banks. 1. However, the overall security level of online banks remains low. Online banking issues include security. Hence, the reason why cyber security in banking is of utmost importance. To increase online banking safety, use secure networks, create strong passwords and choose a bank or credit union that has industry-standard security technology. Online banking security is a top priority. In spite of their many advantages, there are some drawbacks to using online banks as well. You should also be aware that FDIC insurance does not cover any issues resulting from online banking frauds. Oftentimes, the interest rates on loans and other products from online-exclusive banks are lower compared to those from traditional, brick-and-mortar banks. Here are some of the downsides of working with an online bank: Technology issues; Security issues; Inefficient at complex transactions; No relationship with personal banker A description of attack scenarios over a two-year period illustrates several key security issues with Internet banking systems in Norway. No one type of bank can be the best at everything. Thankfully, most banks make security one of their priorities. Disadvantages of Online Banking. In 2015, this was reported about UK bank NatWest:   Many online-only banks pay higher interest rates on savings. Unencrypted Data. Yes, it’s easier than ever for us to access our banking information, but it’s also easier than ever for hackers to gain access to that information. This is a very basic yet crucial part of good cyber security. There are still some risks associated with using online banking, especially for users who use these services on unsecured connections. Without a doubt, one of the most serious potential consequences of an attack is theft of funds. … This is why there’s a greater emphasis to examine the importance of cyber security in banking sector processes. 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