Banking security refers to the measures and protocols that financial institutions implement to protect sensitive information and assets. This includes safeguarding customer data, preventing fraud, and ensuring the integrity of transactions. Common security practices involve encryption, firewalls, and multi-factor authentication to verify user identities. Additionally, banking security encompasses regulatory compliance and risk management strategies. Institutions must adhere to laws and regulations, such as the Gramm-Leach-Bliley Act, to protect consumer privacy. Regular audits and employee training also play a crucial role in maintaining a secure banking environment, helping to mitigate potential threats and vulnerabilities.