Systematic study of network protocol security in financial messaging and communication systems
Posted: Nov 10, 2021
Abstract
The global financial ecosystem relies extensively on network communication protocols to facilitate trillions of dollars in daily transactions, making the security of these protocols a matter of critical importance to economic stability and public trust. Financial messaging systems such as SWIFT (Society for Worldwide Interbank Financial Telecommunication), FIX (Financial Information eXchange), and various proprietary banking protocols form the backbone of international finance, yet their security characteristics have not been systematically analyzed through a unified methodological framework. Existing literature has predominantly approached financial protocol security through compartmentalized perspectives, focusing on cryptographic implementations or individual protocol specifications without considering the emergent vulnerabilities that arise from protocol interactions and temporal dependencies in financial workflows. This research addresses a significant gap in the current understanding of financial network security by developing and applying a comprehensive analytical methodology that examines protocols not as isolated systems but as interconnected components within a complex financial ecosystem. The novelty of our approach lies in its multi-dimensional analysis that simultaneously considers protocol specification compliance, implementation variations across different financial institutions, temporal characteristics of financial messaging, and the security implications of protocol interactions in hybrid financial environments.
Downloads: 27
Abstract Views: 664
Rank: 434169