Data Security in Banks: Preventing Breaches and Ensuring Customer Trust

Banks handle sensitive financial and personal data , making them potential targets for fraudsters. Successful data security tactics are essential for preserving client confidence and averting financial damages. The concepts of data security – confidentiality, accessibility and integrity -are examined in this paper , which also lists the elements and methods that are essential to preserving strong security. Example of vulnerabilities and their effects include the 2014 JPMorgan Chase hack and the 2019 SBI data leak. Best practices offer a multi layered defense against data breaches, including strong access restrictions, encryption, staff training and frequent vulnerability assessments. Keywords : Data Security in Banks, Financial Data protection , Banking cybersecurity strategies, Multi-Factor Authentication (MFA), Intrusion Detection Systems (IDS), Secure Backups in Banking, Customer Data Protection, Financial Institutions Cybersecurity .