Digital banking has a lot of benefits that add value to customer’s satisfaction in term of better service quality, and at the same time enable banks to gain a competitive advantage over other competitors. However, more attention towards digital banking security is required and needed against fraudulent behavior because the lack of control over security makes digital banking still untrusted for many till to day. This paper presents security issues related to digital banking along with the characteristics and challenges of digital banking fraud.Different types ofattacks, some fraud detection strategies, and some prevention methodsused by electronicbanks, are also presented in this paper.An expert opinion method was used to rank different model and techniques in security. Results indicated that the most effective model is “Transaction Monitoring” and the worst models based on respondent’s opinions are “Virtual Keyboards”, “Browser Protection”, and “Device Identification