Cybersecurity hazards and financial system vulnerability: a synthesis of literature

Financial risk and system vulnerability is one of the largest risks posed to the context of cybersecurity. This is because the ultimate goal is to ensure continued representation and lack of financial insurance means uncertainty for interested parties and users. This paper provides a review of the effects the financial system can have from the cybersecurity risks. It can appear as a very risky threat to the financial sector, and therefore impacting a large amount of people. The authors propose 5 new research avenues for consideration to help researchers and analysts understand this problem from different perspectives. “ There are plenty of documents providing conceptual discussions, technical analysis, and survey results, but empirical studies based on real data are yet limited. Besides, the international and national regulatory bodies suggest guidelines to help banks and financial institutions managing cyber risk exposure.”