View in EDS

Cybersecurity threats in FinTech: A systematic review.

Saved in:
Bibliographic Details
Title: Cybersecurity threats in FinTech: A systematic review.
Authors: Javaheri, Danial1 (AUTHOR) javaheri@korea.ac.kr, Fahmideh, Mahdi2 (AUTHOR) mahdi.fahmideh@usq.edu.au, Chizari, Hassan3 (AUTHOR) hchizari@glos.ac.uk, Lalbakhsh, Pooia4 (AUTHOR) pooia.lalbakhsh@monash.edu, Hur, Junbeom1 (AUTHOR) jbhur@korea.ac.kr
Source: Expert Systems with Applications. May2024, Vol. 241, pN.PAG-N.PAG. 1p.
Subjects: Financial technology, Cyberterrorism, Internet security, Artificial intelligence, Data privacy, Computer crime prevention
Abstract: • Adopting PRISMA methodology to investigate cybersecurity threats in FinTech. • Identifying the most effective defense strategies to negate the threats by examining 74 published papers. • Comparing the threats and defenses from different perspectives, including their impacts and technical details. • Proposing a novel and refined taxonomy of security threats and defense strategies in FinTech. • Recommending future research directions to address existing security gaps in current FinTech systems. The rapid evolution of the Smart-everything movement and Artificial Intelligence (AI) advancements have given rise to sophisticated cyber threats that traditional methods cannot counteract. Cyber threats are extremely critical in financial technology (FinTech) as a data-centric sector expected to provide 24/7 services. This paper introduces a novel and refined taxonomy of security threats in FinTech and conducts a comprehensive systematic review of defensive strategies. Through PRISMA methodology applied to 74 selected studies and topic modeling, we identified 11 central cyber threats, with 43 papers detailing them, and pinpointed 9 corresponding defense strategies, as covered in 31 papers. This in-depth analysis offers invaluable insights for stakeholders ranging from banks and enterprises to global governmental bodies, highlighting both the current challenges in FinTech and effective countermeasures, as well as directions for future research. [ABSTRACT FROM AUTHOR]
Copyright of Expert Systems with Applications is the property of Pergamon Press - An Imprint of Elsevier Science and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
Description
Abstract:• Adopting PRISMA methodology to investigate cybersecurity threats in FinTech. • Identifying the most effective defense strategies to negate the threats by examining 74 published papers. • Comparing the threats and defenses from different perspectives, including their impacts and technical details. • Proposing a novel and refined taxonomy of security threats and defense strategies in FinTech. • Recommending future research directions to address existing security gaps in current FinTech systems. The rapid evolution of the Smart-everything movement and Artificial Intelligence (AI) advancements have given rise to sophisticated cyber threats that traditional methods cannot counteract. Cyber threats are extremely critical in financial technology (FinTech) as a data-centric sector expected to provide 24/7 services. This paper introduces a novel and refined taxonomy of security threats in FinTech and conducts a comprehensive systematic review of defensive strategies. Through PRISMA methodology applied to 74 selected studies and topic modeling, we identified 11 central cyber threats, with 43 papers detailing them, and pinpointed 9 corresponding defense strategies, as covered in 31 papers. This in-depth analysis offers invaluable insights for stakeholders ranging from banks and enterprises to global governmental bodies, highlighting both the current challenges in FinTech and effective countermeasures, as well as directions for future research. [ABSTRACT FROM AUTHOR]
ISSN:09574174
DOI:10.1016/j.eswa.2023.122697