After the recent cyber-attacks on financial institutions around the world, we are faced with a whole new set of challenges never seen before. Traditionally, fraud and theft were conducted in person or through traditional telecommunications such as telephone. However, today we are facing highly sophisticated and intelligent hackers who have the ability to illegally access financial institutions’ computer systems from remote locations and even across borders. Therefore, this study will focus on reviewing the information security framework by adopting up-to-date standards as the way to counter financial information theft.
Li, Eldon Y. and Li, Jong Peir, "Information Security Challenges in the New Era of Fintech" (2016). ICEB 2016 Proceedings. 39.