Article Sidebar

Download
PDF
Statistic
Read Counter : 213 Download : 231

Main Article Content

Abstract

Purpose: This study examines the escalating cybersecurity threats facing the U.S. financial sector between 2020 and 2025, with a focus on identifying emerging attack patterns and proposing strategic responses to protect critical financial infrastructure.


Research Design and Methodology: This study employs a mixed-methods approach, combining qualitative analysis of high-profile cyber incidents, such as ransomware and Advanced Persistent Threats (APTs), with quantitative data from cybersecurity reports and institutional records. The methodology includes expert interviews, case study reviews, and statistical analysis to assess the effectiveness of cybersecurity measures.


Findings and Discussion: The research reveals that ransomware and advanced persistent threats (APTs) have resulted in significant financial losses, operational disruptions, and reputational damage for financial institutions. The adoption of advanced encryption technologies, Zero Trust Architecture (ZTA), and AI/ML-based threat detection was found to reduce the impact of breaches significantly. Moreover, institutions with integrated cybersecurity strategies and strong public-private collaboration demonstrated greater resilience against cyber threats.


Implications: The study underscores the necessity for adaptable, multi-layered cybersecurity frameworks that extend beyond mere compliance. Practical recommendations include ongoing employee training, investment in advanced security systems, and enhancing collaboration with regulatory agencies. These findings provide a roadmap for institutional leaders and policymakers to reinforce the stability and security of the financial sector.

Keywords

cybersecurity financial infrastructure ransomware zero trust architecture

Article Details

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite
Alam, M. A., Sarna, S. A., Rakibuzzaman, M., & Reza, J. (2025). Strengthening Cybersecurity Protocols to Safeguard U.S. Financial Infrastructure Against Emerging Threats. Advances in Economics & Financial Studies, 3(2), 71–82. https://doi.org/10.60079/aefs.v3i2.506
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Anbar, M., Abdullah, N., & Manickam, S. (2020). Advances in cyber security. Springer. https://doi.org/10.1007/978-981-15-2693-0
  2. Azura, Y. T. Y., Azad, M. A., & Ahmed, Y. (2025). An integrated cyber security risk management framework for online banking systems. Journal of Banking and Financial Technology. https://doi.org/10.1007/s42786-025-00056-3
  3. Chen, C., & Bartle, J. R. (2022). Traditional Methods of Financing Infrastructure BT - Innovative Infrastructure Finance: A Guide for State and Local Governments (C. Chen & J. R. Bartle (eds.); pp. 45–69). Springer International Publishing. https://doi.org/10.1007/978-3-030-91411-0_3
  4. Cremer, F., Sheehan, B., Fortmann, M., Kia, A. N., Mullins, M., Murphy, F., & Materne, S. (2022). Cyber risk and cybersecurity: a systematic review of data availability. The Geneva Papers on Risk and Insurance - Issues and Practice, 47(3), 698–736. https://doi.org/10.1057/s41288-022-00266-6
  5. Croce, R. Della, & Gatti, S. (2015). International Trends in Infrastructure Finance BT - Public Private Partnerships for Infrastructure and Business Development: Principles, Practices, and Perspectives (S. Caselli, G. Corbetta, & V. Vecchi (eds.); pp. 81–100). Palgrave Macmillan US. https://doi.org/10.1057/9781137541482_5
  6. Ekstedt, M., Afzal, Z., Mukherjee, P., Hacks, S., & Lagerström, R. (2023). Yet another cybersecurity risk assessment framework. International Journal of Information Security, 22(6), 1713–1729. https://doi.org/10.1007/s10207-023-00713-y
  7. Erikson, K. (2020). Frameworks for centralized authentication and authorization. https://urn.fi/URN:NBN:fi-fe2020050425015
  8. Goel, R., Kumar, A., & Haddow, J. (2020). PRISM: a strategic decision framework for cybersecurity risk assessment. Information & Computer Security, 28(4), 591–625. https://doi.org/10.1108/ICS-11-2018-0131
  9. Khaw, T. Y., Amran, A., & Teoh, A. P. (2024). Building a thematic framework of cybersecurity: a systematic literature review approach. Journal of Systems and Information Technology, 26(2), 234–256. https://doi.org/10.1108/JSIT-07-2023-0132
  10. Lyu, X., Ding, Y., & Yang, S. (2019). Safety and security risk assessment in cyber‐physical systems. IET Cyber‐Physical Systems: Theory & Applications, 4(3), 221–232. https://doi.org/10.1049/iet-cps.2018.5068
  11. Marble, J. L., Lawless, W. F., Mittu, R., Coyne, J., Abramson, M., & Sibley, C. (2015). The Human Factor in Cybersecurity: Robust & Intelligent Defense BT - Cyber Warfare: Building the Scientific Foundation (S. Jajodia, P. Shakarian, V. S. Subrahmanian, V. Swarup, & C. Wang (eds.); pp. 173–206). Springer International Publishing. https://doi.org/10.1007/978-3-319-14039-1_9
  12. Michael, C. I., Campbell, T.-A., Idoko, I. P., Bemologi, O. U., Anyebe, A. P., & Odeh, I. I. (2024). Enhancing Cybersecurity Protocols in Financial Networks through Reinforcement Learning. International Journal of Scientific Research and Modern Technology, 3(9 SE-Articles). https://doi.org/10.38124/ijsrmt.v3i9.58
  13. Osundare, O. S., & Ige, A. B. (2024). Enhancing financial security in Fintech: Advancednetwork protocols for modern inter-bank infrastructure. Finance & Accounting Research Journal, 6(8), 1403–1415. https://doi.org/10.51594/farj.v6i8.1384
  14. Paul, E., Callistus, O., Somtobe, O., Esther, T., Somto, K., Clement, O., & Ejimofor, I. (2023). Cybersecurity strategies for safeguarding customer’s data and preventing financial fraud in the United States financial sectors. International Journal on Soft Computing, 14(3), 1–16. https://doi.org/10.5121/ijsc.2023.14301
  15. Priyadarshani, K., & Rengarajan, A. (2024). Cybersecurity in the Financial Sector. International Journal of Research Publication and Reviews, 5(3), 751–756. https://doi.org/10.55248/gengpi.5.0324.0709
  16. Qian, Y. (2022). Blockchain-based New Financial Infrastructures. Springer Books. https://doi.org/10.1007/978-981-19-4843-5
  17. Salem, A. H., Azzam, S. M., Emam, O. E., & Abohany, A. A. (2024). Advancing cybersecurity: a comprehensive review of AI-driven detection techniques. In Journal of Big Data (Vol. 11, Issue 1). Springer International Publishing. https://doi.org/10.1186/s40537-024-00957-y
  18. Siegel, C. A., & Sweeney, M. (2020). Cyber strategy: risk-driven security and resiliency. Auerbach Publications. https://doi.org/10.1201/9780429323003
  19. Spinner, A. (2024). The Economics of Financial Infrastructure BT - The Financial Metaverse: Tokens, Derivatives and Other Synthetic Assets (A. Spinner (ed.); pp. 107–143). Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-53915-2_4
  20. Tejay, G. P. S., & Winkfield, M. (2025). Does Leadership Approach Matter? Examining Behavioral Influences of Leaders on Employees’ Information Security Compliance. Information Systems Frontiers. https://doi.org/10.1007/s10796-025-10592-4
  21. Tripathy, B. K., Das, D. P., Jena, S. K., & Bera, P. (2018). Risk based Security Enforcement in Software Defined Network. Computers & Security, 78, 321–335. https://doi.org/https://doi.org/10.1016/j.cose.2018.07.010
  22. Ulrich, B., & Geogre, P. (2023). Introduction to payments and financial market infrastructures. Springer. https://doi.org/10.1007/978-3-031-39520-8
  23. Verma, N., Kumar, N., Verma, C., Illés, Z., & Singh, D. (2025). A systematic review on cybersecurity of robotic systems: vulnerabilities trends, threats, attacks, challenges, and proposed framework. International Journal of Information Security, 24(3), 127. https://doi.org/10.1007/s10207-025-01041-z
  24. Zadeh, A., Lavine, B., Zolbanin, H., & Hopkins, D. (2023). A cybersecurity risk quantification and classification framework for informed risk mitigation decisions. Decision Analytics Journal, 9, 100328. https://doi.org/https://doi.org/10.1016/j.dajour.2023.100328