Cybersecurity is crucial in the rapidly growing FinTech sector for safeguarding financial data and combating fraud. As FinTechs innovate, they face significant cybersecurity threats, evidenced by costly data breaches. This article by Vasilii Domnikov outlines solutions for enhancing security, including data encryption, multi-factor authentication, and strategies like tokenization and machine learning for fraud detection. It emphasizes the necessity for compliance with regulations and adapting to evolving cyber threats to maintain consumer trust and ensure operational integrity in financial services.
Cybersecurity in FinTech Applications: Protecting Financial Data and Preventing Fraud
