Analyses of Cybercrime Regulations Falling behind New Technologies

Abstract

Information and communication technology (ICT) and digital systems have developed to the point that they are indispensable to all industries, including Europe. The extensive use of preventative measures reflects the growing concern regarding cyber security. Concerns regarding cyber security in light of new technology are the primary focus of this review paper, which also discusses the problem of out-of-date cybercrime regulations. New technological advancements in cyber security, together with ethical considerations and external factors, are highlighted. To prevent sensitive data from falling into the wrong hands and jeopardising the security of the financial industry, the industry must continually analyse and improve its systems. In this review article, we examine more than twenty unique scholarly evaluations. The abstract and introduction comprise the first section of this review. In this review article, we discussed a variety of scholarly opinions on the topic as reviews. Typically, the final paragraph of an article includes a concise summary of the main arguments and supporting evidence presented in the body of the article. Moreover, security threats and challenges, as well as the most recent developments and emerging trends in cyber security, are discussed. People today are more inclined to conduct business on the internet than they were a decade ago. Likewise, it is more difficult than ever to retain what we have learnt. Additionally, a spike in cybercrime has been connected to the exponential expansion of social media platforms. Data security is of the utmost importance in the area of information technology. Information security is one of the most significant issues of the contemporary era. The term "cybersecurity" is always the first thing that comes to mind when discussing "cybercrimes," which are increasing at an alarming rate every day (Brands & Van Doorn, 2022). In order to combat this type of cybercrime, governments and corporations have created a variety of protective measures. The extensive use of preventative measures reflects the growing concern regarding cyber security. Concerns regarding cyber security in light of new technology are the primary focus of this review paper, which also discusses the problem of out-of-date cybercrime regulations. New technological advancements in cyber security, together with ethical considerations and external factors, are highlighted. It is well-known that the dynamic nature of the financial ecosystem will impact some aspect of the institution's infrastructure, as well as the financial sector's susceptibility to cybercrimes, particularly denial-of-service attacks (Brands & Van Doorn, 2022). To prevent sensitive data from falling into the wrong hands and jeopardising the security of the financial industry, the industry must continually analyse and improve its systems. The financial sector has been far ahead of other businesses in terms of investment and innovation in cyber security, with the banking industry at the forefront of safety system deployment and best practises. In this review article, we examine more than twenty unique scholarly evaluations. The abstract and introduction comprise the first section of this review. These introductions and abstracts elaborate on the most recent facts. Earlier, we discussed a variety of scholarly opinions on the topic as reviews. Typically, the final paragraph of an article includes a concise summary of the main arguments and supporting evidence presented in the body of the article. Moreover, security threats and challenges, as well as the most recent developments and emerging trends in cyber security, are discussed. The supplied comprehensive review study is anticipated to be beneficial for IT and cyber security specialists.