Wireless technology has been gaining rapid popularity over the years. Nowadays, security is considered as one of the most critical parameter for the acceptance of any wireless networking technology. Although implementation of technological solutions is the most common way to respond to threats of wireless security systems and susceptibility, wireless security is basically a management issue. Effective management planned after analyzing current threats will help to sort out issues in a better way. In this paper, we analyze the security related protocol (WEP, WPA, WPA2) and current scenario of the wireless network security systems. We also figure out various issues that allow hackers to monitor and even change the integrity of transmitted data and discuss a number of available solutions to counter those threats.