Cyber Risk for the Financial Sector: A Framework for Quantitative Assessment - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cyber Risk for the Financial Sector: A Framework for Quantitative Assessment write by Antoine Bouveret. This book was released on 2018-06-22. Cyber Risk for the Financial Sector: A Framework for Quantitative Assessment available in PDF, EPUB and Kindle. Cyber risk has emerged as a key threat to financial stability, following recent attacks on financial institutions. This paper presents a novel documentation of cyber risk around the world for financial institutions by analyzing the different types of cyber incidents (data breaches, fraud and business disruption) and identifying patterns using a variety of datasets. The other novel contribution that is outlined is a quantitative framework to assess cyber risk for the financial sector. The framework draws on a standard VaR type framework used to assess various types of stability risk and can be easily applied at the individual country level. The framework is applied in this paper to the available cross-country data and yields illustrative aggregated losses for the financial sector in the sample across a variety of scenarios ranging from 10 to 30 percent of net income.
Financial Cybersecurity Risk Management
Financial Cybersecurity Risk Management - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Cybersecurity Risk Management write by Paul Rohmeyer. This book was released on 2018-12-13. Financial Cybersecurity Risk Management available in PDF, EPUB and Kindle. Understand critical cybersecurity and risk perspectives, insights, and tools for the leaders of complex financial systems and markets. This book offers guidance for decision makers and helps establish a framework for communication between cyber leaders and front-line professionals. Information is provided to help in the analysis of cyber challenges and choosing between risk treatment options. Financial cybersecurity is a complex, systemic risk challenge that includes technological and operational elements. The interconnectedness of financial systems and markets creates dynamic, high-risk environments where organizational security is greatly impacted by the level of security effectiveness of partners, counterparties, and other external organizations. The result is a high-risk environment with a growing need for cooperation between enterprises that are otherwise direct competitors. There is a new normal of continuous attack pressures that produce unprecedented enterprise threats that must be met with an array of countermeasures. Financial Cybersecurity Risk Management explores a range of cybersecurity topics impacting financial enterprises. This includes the threat and vulnerability landscape confronting the financial sector, risk assessment practices and methodologies, and cybersecurity data analytics. Governance perspectives, including executive and board considerations, are analyzed as are the appropriate control measures and executive risk reporting. What You’ll Learn Analyze the threat and vulnerability landscape confronting the financial sector Implement effective technology risk assessment practices and methodologies Craft strategies to treat observed risks in financial systemsImprove the effectiveness of enterprise cybersecurity capabilities Evaluate critical aspects of cybersecurity governance, including executive and board oversight Identify significant cybersecurity operational challenges Consider the impact of the cybersecurity mission across the enterpriseLeverage cybersecurity regulatory and industry standards to help manage financial services risksUse cybersecurity scenarios to measure systemic risks in financial systems environmentsApply key experiences from actual cybersecurity events to develop more robust cybersecurity architectures Who This Book Is For Decision makers, cyber leaders, and front-line professionals, including: chief risk officers, operational risk officers, chief information security officers, chief security officers, chief information officers, enterprise risk managers, cybersecurity operations directors, technology and cybersecurity risk analysts, cybersecurity architects and engineers, and compliance officers
Cyber Risk and Financial Stability
Cyber Risk and Financial Stability - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cyber Risk and Financial Stability write by Frank Adelmann. This book was released on 2020-12-07. Cyber Risk and Financial Stability available in PDF, EPUB and Kindle. The ability of attackers to undermine, disrupt and disable information and communication technology systems used by financial institutions is a threat to financial stability and one that requires additional attention.
Cyber Risk, Market Failures, and Financial Stability
Cyber Risk, Market Failures, and Financial Stability - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cyber Risk, Market Failures, and Financial Stability write by Emanuel Kopp. This book was released on 2017-08-07. Cyber Risk, Market Failures, and Financial Stability available in PDF, EPUB and Kindle. Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk.
Cyber Risk Surveillance: A Case Study of Singapore
Cyber Risk Surveillance: A Case Study of Singapore - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cyber Risk Surveillance: A Case Study of Singapore write by Joseph Goh. This book was released on 2020-02-10. Cyber Risk Surveillance: A Case Study of Singapore available in PDF, EPUB and Kindle. Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It is therefore important to integrate it into financial sector surveillance. This paper offers a range of analytical approaches to assess and monitor cyber risk to the financial sector, including various approaches to stress testing. The paper illustrates these techniques by applying them to Singapore. As an advanced economy with a complex financial system and rapid adoption of fintech, Singapore serves as a good case study. We place our results in the context of recent cybersecurity developments in the public and private sectors, which can be a reference for surveillance work.
