Click, Hack, Vanish: The Growing Threat of Cyberattacks on Pakistan's Financial Sectors

Abstract

Pakistan's financial sector, a critical pillar of the nation's economy, faces a growing menace of cyberattacks. These malicious attempts to steal data, disrupt operations, or extort money can cripple financial institutions and erode public trust. This article explores how do cybersecurity investments by banks impact their financial vulnerability and reputational risk in the face of cyberattacks? For this purpose the spending pattern of banks were checked and secondary data of  10 banks were collected of year 2023 by and regression analysis was applied. The result showed that every bank has to spend almost 100 million to 500 million in order to prevent cyberattcks. The results can assist banks in strategic decision-making regarding cybersecurity investments. The artcile contains five major sections, an introduction of cyberattacks, literature review, conceptual framework, methodolgy, and finally result and conclusion.