Cybersecurity threats in FinTech: A systematic review

Javaheri, Danial, Fahmideh, Mahdi, Chizari, Hassan ORCID: 0000-0002-6253-1822, Lalbakhsh, Pooia and Hur, Junbeom (2024) Cybersecurity threats in FinTech: A systematic review. Expert Systems with Applications, 241. Art 122697. doi:10.1016/j.eswa.2023.122697

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Abstract

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.

Item Type:	Article
Article Type:	Article
Uncontrolled Keywords:	Banking trojan; Business sustainability; Cyber-attacks; Data privacy; Financial technology
Subjects:	Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Divisions:	Schools and Research Institutes > School of Business, Computing and Social Sciences
Research Priority Areas:	Applied Business & Technology
Depositing User:	Rhiannon Goodland
Date Deposited:	28 Nov 2023 16:46
Last Modified:	13 Feb 2024 16:45
URI:	https://eprints.glos.ac.uk/id/eprint/13500

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