Cybersecurity Prevention Analysis and Guidelines in the Banking Sector

Abstract

The banking sector faces escalating cyber threats, with attacks growing in sophistication and frequency; yet many institutions rely on outdated, reactive measures. Despite heavy investments in technology, human factors and fragmented collaboration frameworks remain critical vulnerabilities. Current prevention strategies often lack a holistic integration of technical, organizational, and regulatory dimensions, leaving systemic gaps that are exploitable by attackers. Moreover, the absence of sectorwide standards for measuring the effectiveness of prevention complicates risk prioritization. This study addresses these challenges by empirically validating key success factors and translating them into actionable management practices. The aim of this study is to identify and evaluate the factors that have the greatest impact on cybersecurity prevention in the banking sector. To achieve this objective, the following research tasks were set: to analyze the factors of cyber security prevention and theoretical aspects of assessment; to determine the influence of cyber security factors by applying expert assessment among banking sector specialists; to evaluate the factors of cyber security that increase and decrease cyber security in the banking sector; to provide recommendations to banks on how to effectively manage the identified cyber security prevention measures. This study employed research methods including scientific literature analysis, expert evaluation, and in-depth interviews. Based on the results of the empirical study, expert evaluation showed that the impact of cybersecurity factors in the banking sector is significant, with particular attention paid to software vulnerability management, employee training, and network segmentation. After assessing cybersecurity factors, factors that both increase and decrease the cybersecurity of banks were identified, with particular emphasis on the human factor and cooperation with state institutions. Based on the study's results, recommendations were made to banks on how to effectively manage the identified cybersecurity prevention factors to strengthen their resilience against cyber threats.