Abstract :
Migrating fintech infrastructure to the cloud offers numerous benefits, including scalability, flexibility, and cost savings. However, this transition also brings significant security challenges, particularly in mitigating fraud risks. As fintech companies move sensitive financial data and operations to cloud environments, they must address vulnerabilities that could be exploited by malicious actors. This article explores the security challenges faced during cloud migrations and provides practical solutions to mitigate fraud risks. It delves into the complexities of maintaining data integrity, ensuring compliance with regulatory standards, and safeguarding against sophisticated cyber threats. Key strategies include implementing robust encryption protocols, adopting multi-factor authentication, and utilizing advanced monitoring and analytics tools to detect and respond to suspicious activities in real time. Additionally, the article highlights the importance of a comprehensive security framework that integrates continuous assessment and improvement practices. By focusing on both preventative and responsive measures, fintech companies can navigate the cloud migration process securely, maintaining trust and protecting their customers' financial data. This analysis underscores that a well-planned and executed cloud migration can enhance overall security posture, provided that fraud risk mitigation remains a top priority throughout the transition.
Keyword :
Infrastructure, Risks, security, financial data, safeguarding, analytics, monitoring.