Information technology is the architect of the present world. It has given a new structure of the world as well as to society. For any transmission that may be information or an idea or goods or few of services or money everything can be done in the cyber space. This is more encouraging to conduct a cyber crime with reference to corresponding operation by the criminals. Once any one landed on this platform to perform they are not only connected to the world, and also welcoming a huge number of known and unknown people in to their personal world too. At this point of time cyber security take a lead to drive the process and safeguarding like a shield for individual data base in the cyber space. It also defends from unnecessary accessibility of one’s information by the others and controls the cyber crime. At present most of the financial transactions happened through online due to reasons like ease of transaction facility, government policy and to avoid physical cash payment. So everyone have just around the corner of their information by others .In the view of this, protecting the financial information of individual or organizations is a gigantic challenge in front of the information technology industry. The present paper is analyzing how threats takes place in the online transaction process and what are the recommendations to be practiced against those threats by providing more reliable security though cyber security methods and information technology techniques.

Keywords: Information Technology; Cyber Space; Cyber Crime; Financial Transactions.