Published on: April 2026
THE EVOLVING THREAT LANDSCAPE OF ONLINE BANKING: A COMPARATIVE ANALYSIS OF CYBERSECURITY CHALLENGES AND MITIGATIONS
Adarsh Sharma Manish Kumar Manisha Sharma
Dr. Deepshikha Aggarwal
Article Status
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Abstract
The digitization of global finance has fundamentally restructured how society interacts with money, transitioning from physical branch-based transactions to ubiquitous, instantaneous digital ecosystems. Consequently, online banking platforms have emerged as one of the most lucrative and heavily besieged targets for global cybercriminal syndicates, state-sponsored actors, and opportunistic hackers. This paper provides a comprehensive, comparative analysis of the contemporary cybersecurity hurdles endemic to modern digital banking architectures. By deconstructing the anatomy of prevalent cyberattacks, we evaluate the efficacy and resilience of both legacy and modern defensive paradigms. We extensively explore the mechanics of primary threat vectors—including sophisticated phishing campaigns, polymorphic malware, Ransomware-as-a-Service (RaaS), and advanced Man-in-the-Middle (MitM) interceptions. Furthermore, this study highlights how the proliferation of Open Banking, the integration of third-party Application Programming Interfaces (APIs), and the persistent vulnerability of human psychology exponentially expand the attack surface. We critically examine the evolution of authentication mechanisms, contrasting the inherent fragility of knowledge-based systems (like traditional static passwords) with the robust frameworks of Multi-Factor Authentication (MFA), behavioral biometrics, and cryptographic hardware tokens.
How to Cite this Paper
Sharma, A., Kumar, M. & Sharma, M. (2026). The Evolving Threat Landscape of Online Banking: A Comparative Analysis of Cybersecurity Challenges and Mitigations. International Journal of Creative and Open Research in Engineering and Management, <i>02</i>(04). https://doi.org/10.55041/ijcope.v2i4.630
Sharma, Adarsh, et al.. "The Evolving Threat Landscape of Online Banking: A Comparative Analysis of Cybersecurity Challenges and Mitigations." International Journal of Creative and Open Research in Engineering and Management, vol. 02, no. 04, 2026, pp. . doi:https://doi.org/10.55041/ijcope.v2i4.630.
Sharma, Adarsh,Manish Kumar, and Manisha Sharma. "The Evolving Threat Landscape of Online Banking: A Comparative Analysis of Cybersecurity Challenges and Mitigations." International Journal of Creative and Open Research in Engineering and Management 02, no. 04 (2026). https://doi.org/https://doi.org/10.55041/ijcope.v2i4.630.
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