Cybersecurity threats in FinTech: A systematic review

Article

Javaheri, Danial, Fahmideh, Mahdi, Chizari, Hassan, Lalbakhsh, Pooia and Hur, Junbeom. 2024. "Cybersecurity threats in FinTech: A systematic review." Expert Systems with Applications. 241. https://doi.org/10.1016/j.eswa.2023.122697
Article Title

Cybersecurity threats in FinTech: A systematic review

ERA Journal ID17852
Article CategoryArticle
AuthorsJavaheri, Danial, Fahmideh, Mahdi, Chizari, Hassan, Lalbakhsh, Pooia and Hur, Junbeom
Journal TitleExpert Systems with Applications
Journal Citation241
Article Number122697
Number of Pages31
Year2024
PublisherElsevier
Place of PublicationUnited Kingdom
ISSN0957-4174
1873-6793
Digital Object Identifier (DOI)https://doi.org/10.1016/j.eswa.2023.122697
Web Address (URL)https://www.sciencedirect.com/science/article/pii/S0957417423031998
AbstractThe 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.
KeywordsBanking trojan; Business sustainability ; Cyber-attacks ; Data privacy ; Financial technology
Contains Sensitive ContentDoes not contain sensitive content
ANZSRC Field of Research 2020460905. Information systems development methodologies and practice
Public Notes

The accessible file is the accepted version of the paper. Please refer to the URL for the published version.

Byline AffiliationsKorea University, Korea
School of Business
University of Gloucestershire, United Kingdom
Monash University
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