  In the banking industry, ransomware is a well-known threat, but since the
beginning of 2022, cryptojacking, an emerging threat is posing a considerable
challenge to the banking industry. Ransomware has variants, and the attackers
keep changing the nature of these variants. This review paper studies the
complex background of these two threats and scrutinizes the actual challenges,
and problems that the banking industry and financial institutions face. These
threats, though distinct in nature, share commonalities, such as financial
motivations and sophisticated techniques. We focus on examining the newly
emerged variants of ransomware while we provide a comprehensive idea of
cryptojacking and its nature. This paper involves a detailed breakdown of the
specific threats posed by cryptojacking and ransomware. It explores the
techniques cybercriminals use, the variabilities they look for, and the
potential consequences for financial institutions and their customers. This
paper also finds out how cybercriminals change their techniques following the
security upgrades, and why financial firms including banks need to be proactive
about cyber threats. Additionally, this paper reviews the background study of
some existing papers, finds the research gaps that need to be addressed, and
provides suggestions including a conclusion and future scope on those disputes.
Lastly, we introduce a Digital Forensics and Incident Response (DFIR) approach
for up-to-date cyber threat hunting processes for minimizing both cryptojacking
and ransomware attacks in the banking industry.
