Cybercrime: An Emerging Threat to Banks and NBFCs

Abstract

Invasion of the digital world has changed the way day to day activities are carried out. India being a country of young digital population with estimated 370 million users making up to about 30 percent of world’s population becomes highly prone to carry out cyberattacks. The article highlights the emerging threat of today’s cyber world known as cybercrime to the financial sector in general and banking in particular.