Cyber Attacks and Defense Strategies in India: An Empirical Assessment of Banking Sector

Organizations cannot sustain without communication networks linking the vast sources of information spread all over the globe and information technology experts are struggling to design the high performance hardware and software which can cater the needs of today's' hi tech firms. The potential threat to secure enormous volume of data with a varied community of cyber criminals is a challenge in the current digital era. The present study is an attempt to reveal the varied cyber attack strategies adopted by cyber criminals to target the selected banks in India where spoofing, brute force attack, buffer overflow and cross side scripting are found positively correlated with public and private sector banks. Further, the findings show a positive correlation between Intruder Detection and cyber attacks, i.e., online identify theft, hacking, malicious code, DOS attack and credit card/ATM frauds as well as online identify theft, DOS attack & credit card/ATM fraud are found positively correlated with System Monitoring.