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Published : 2024-06-14
Vol. 94 No. 1 (2024)

Phishing as the main threat to digital banking security

Patryk Król

https://orcid.org/0000-0003-4079-8849

DOI: https://doi.org/10.26354/bb.2.1.94.2024

Abstract

Subject and purpose of the work: The aim of this article is to analyze the threat of phishing as the main challenge to the security of digital banking. The work focuses on identifying methods of phishing attacks, assessing the effectiveness of defensive actions taken by financial institutions, and proposes solutions to minimize the risk for customers.
Materials and methods: The analysis is based on research conducted by various institutions, including CERT Polska, and on the analysis of specific cases of phishing attacks documented by these organizations. Statistical data on public awareness of phishing threats was also used. Research methods also include case studies of attacks, analysis of examples of fake banking websites and proposals for preventive actions.
Results: The analysis showed that phishing still poses a significant threat to the banking sector, and attacks of this type are often directed at customers of financial institutions. Research shows that despite defensive actions taken by banks, the effectiveness of phishing attacks remains, which indicates the need to constantly improve security strategies.
Conclusions: The work suggests that banks should continue to educate their customers in recognizing phishing threats. Moreover, introducing additional authorization methods, such as U2F keys, can provide effective protection against attacks. It is also worth paying attention to groups that are more vulnerable to phishing attacks, such as the elderly, and adapting educational activities to their needs. The work indicates the need to constantly adapt banks' security strategies to the evolving cybersecurity landscape.

Keywords:

phishing, spear phishing, whaling, smishing, vishing, calendar phishing, pharming

JEL Codes

L86


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Król, P. (2024). Phishing as the main threat to digital banking security. Safe Bank, 94(1), 25–42. https://doi.org/10.26354/bb.2.1.94.2024

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