When speaking about digital transactions, the only major factor which would be affected the most drastically is the Accounting and it’s connected fields like e-commerce and especially Taxation. It is the duty of the respective organization to look to their customers investment. In order to keep and set things right and above all to ensure the general public and the ultimate consumers, the economists thought of implementing the effective concept of Cyber Security. It is the process of checking into things in a very desperate and discreet manner for the purpose of protecting the customers investment and to push the economy towards the right path. Cyber security plays a very vital role in the digital transaction transformation especially in the day to day life of the people who make payments via online using their respective debit or credit cards as the case may be. The paper discusses about the impact of transformation into digital transactions and the role of cyber security in the digital and online transactions and also of why cyber security is lagging in the digital transactions. This paper will also be helpful for the audience and the readers to improve their knowledge about cyber security and to overcome security loopholes on their computer operation. Also it helps to spread awareness among normal people about emerging security threats. Simple and practical methods of dealing with things via online has been explained in order to overcome the difficulties of cyber criminals and such other problems.