THE STATE OF CYBERSECURITY IN BANGLADESH’S BANKING SECTOR: EMERGING TRENDS AND STRATEGIC DEFENSES
Authors: Tanvir Hossain Mohammad
DOI: 10.5281/zenodo.17242122
Published: January 2024
Abstract
<p>The digital transformation of Bangladesh’s banking system, driven by FinTech innovations and online services, has significantly improved the conditions of financial accessibility and inclusion. However, this advancement has also highlighted the sector’s vulnerability to a wide range of cyber threats, including phishing, ransomware, hacking, and insider attacks. Many banks operate with old legacy systems, inadequate infrastructure, outdated regulations, and a shortage of skilled cybersecurity professionals, making them exposed to major digital risks. This study adopts an integrative review approach to analyze the inherent trends, threats, and safeguards related to cybersecurity in the Bangladeshi banking ecosystem. It also elucidated the findings from academic publications, industry reports, and policy documents to present a comprehensive understanding of the current cybersecurity landscape in the Bangladeshi banking sector. The research depicted the key challenges such as regulatory gaps, institutional weaknesses, technological deficiencies, and human-centric risks. To demonstrate these issues, the study proposes a multifaceted safeguard framework consisting of technological solutions (AI-based monitoring, encryption, blockchain), institutional reforms (policy enforcement, audits, public-private partnerships), and human-centered strategies (awareness training, ethical practices). By incorporating insights from multiple disciplines, this paper offers rational guidance for policymakers, practitioners, and researchers working to advance cybersecurity in the emerging economies of Bangladesh.</p>
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