As the world becomes increasingly dependent on financial technologies (FinTech), ensuring the security of these digital platforms is more urgent than ever. The same innovations that enhance speed, convenience, and financial inclusion also open the door to a rising tide of cybersecurity threats. Among the experts at the forefront of addressing these challenges is Olukunle Oladipupo Amoo, a cybersecurity researcher whose contributions are helping shape the future of secure financial systems in the digital age.
In 2024, Amoo co-authored a landmark study titled “A Critical Review of Emerging Cybersecurity Threats in Financial Technologies”, published in the International Journal of Science and Research Archive. The publication offers a detailed and multidimensional review of how cybersecurity threats are evolving in the FinTech space. The paper examines a wide spectrum of vulnerabilities—ranging from conventional attacks such as phishing and malware to advanced threats including ransomware, deepfake-enabled fraud, and adversarial artificial intelligence (AI). The review highlights how the growing interconnectedness of financial networks has amplified systemic risk, meaning a breach in one part of the system can rapidly compromise others.
“In FinTech, threats don’t just attack one system,” Amoo explains. “They ripple through networks, exploiting weak links in connected platforms. That’s the real danger.”
The study moves beyond descriptive analysis and into practical territory. It provides frameworks and suggestions for financial institutions to detect, prevent, and respond to both known and emerging cyber threats. Amoo emphasizes that financial services—especially mobile money applications, blockchain-based platforms, and neobanks—are increasingly becoming prime targets for sophisticated cybercriminals. These attackers exploit both technical flaws and human error, often gaining access through overlooked vulnerabilities in third-party services or cloud environments.
“Our goal is to provide more than awareness,” Amoo notes. “We want to equip FinTech players with strategies they can deploy immediately, no matter their size.”
Central to Amoo’s philosophy is the belief that cybersecurity must be proactive, adaptive, and holistic. This view is reflected in the research’s emphasis on modernizing cyber defenses to keep pace with rapidly changing threats. Among the technologies championed in the paper are machine learning, real-time anomaly detection systems, biometric authentication, and AI-powered threat intelligence platforms. These tools help to reduce reliance on reactive models by enabling early identification and response.
“Cybersecurity must evolve as fast as the threats do,” Amoo says. “We need intelligent, real-time systems that don’t wait for a breach before responding.”
Yet, Amoo cautions against over-reliance on technology alone. His work draws attention to the persistent vulnerability presented by human behavior. Social engineering attacks—such as business email compromise (BEC), voice phishing (vishing), and deepfake impersonations—continue to yield alarming success rates because they bypass technical barriers and prey on human trust.
“Technology alone can’t stop threats,” Amoo warns. “People are often the weakest link—but they can also be the strongest defense if properly trained.”
To this end, the research recommends multi-layered defense strategies that include employee awareness programs, simulation exercises, and regular audits of internal protocols. These measures help organizations cultivate a security-first culture and make cyber hygiene a shared responsibility across all levels of a company.
Amoo’s paper also delves deeply into the regulatory gaps surrounding FinTech cybersecurity. While global regulatory bodies have begun to adapt, many frameworks still fall short in adequately addressing the speed, scale, and complexity of modern cyber threats. The research advocates for regulations that are flexible, risk-based, and coordinated across jurisdictions.
“Regulations must not just react—they must anticipate,” Amoo argues. “We need adaptive policies that foster innovation while ensuring accountability.”
A unique and pressing issue addressed in the publication is supply chain risk, a growing concern in FinTech due to extensive outsourcing, cloud dependency, and global vendor ecosystems. Amoo argues that supply chain security is now a front-line issue for cybersecurity leaders, as attackers increasingly target less-protected third parties as entry points to larger financial institutions.
“We have to think of supply chains as extended attack surfaces,” Amoo emphasizes. “Vendor risk is now cyber risk.”
To mitigate this, the research encourages companies to conduct continuous vendor risk assessments, build redundancy into their supply chains, and adopt zero-trust architectures that limit lateral movement within networks even after access is gained.
The paper concludes with a forward-looking outlook. Recognizing that cyber threats will continue to advance in sophistication, Amoo and his co-authors call for greater investment in quantum-safe cryptography, hardened blockchain protocols, and resilient architectures for Internet of Things (IoT) devices used in financial transactions. These recommendations are not speculative but grounded in observed trends and real-world case studies of emerging attack techniques.
Importantly, the paper advocates for cross-sectoral collaboration. Amoo highlights that no institution—regardless of size or capability—can withstand the evolving threat landscape in isolation. Collaboration among industry stakeholders, researchers, and government bodies is crucial to creating a secure financial future.
“Collaboration is the future,” Amoo concludes. “No single entity can stand against cyber threats alone. It must be a unified effort.”
This comprehensive and visionary approach makes Amoo’s contribution especially timely. With cybercrime expected to cost the global economy $10.5 trillion annually by 2025, the FinTech sector cannot afford to treat cybersecurity as an afterthought. Amoo’s insights provide a critical roadmap for how organizations can move from reactive to proactive, from fragmented to unified, and from vulnerable to resilient.
Beyond the pages of the journal, Amoo’s work is being taken seriously by practitioners in the field. His research is already being referenced in cybersecurity policy discussions, university lectures, and corporate strategy sessions. His ability to connect theoretical constructs with operational realities sets him apart in a space that is often either too academic or overly technical.
As the FinTech industry continues to grow and innovate, it will face new challenges that demand new answers. Amoo’s body of work offers both a critique of existing practices and a blueprint for what comes next. He reminds stakeholders that cybersecurity is not just a technical imperative—it is a fundamental pillar of trust, financial inclusion, and global economic stability.
In an era where digital infrastructure underpins the world’s financial systems, Olukunle Oladipupo Amoo stands out as a voice of clarity, urgency, and innovation. His research serves as both a warning and a guidepost—challenging leaders to rethink, redesign, and reinforce the future of digital finance.
