scholarly journals Risk Management of Credit Card Payment Gateway using Octave Allegro Methodology At Electronic Payment Provider Institution

2019 ◽  
Vol 8 (4) ◽  
pp. 11831-11838
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Credit Card ◽  
Group Discussion ◽  
Control Measures ◽  
Internet Technology ◽  
Card Payment ◽  
Financial Transactions ◽  
The Impact ◽  
Payment Gateway

The use of internet technology is growing very fast which is driving the development of businesses in Indonesia, one of which is in the eCommerce sector. To support payment transactions conducted by e-commerce, in conducting this business, it is necessary to collaborate with business partner engaged in the payment gateways sector. Company partner engaged in the payment gateways sector to provide solutions to electronic financial transactions where one product is a credit card payment gateways. The purpose of this research is to make a risk assessment and risk management for audit certification credit card payment gateway Company. Risk assessment can help to know what are the risks that may occur, how big the impact of these risks, as well as recommendations related control measures must be carried out if the impact of these risks occur. This research using OCTAVE Allegro methodology to identify and evaluate information security risks credit card payment gateway. This research is qualitative research consisting of observation, conducting group discussion with the respondents. The respondend of this research are VP Development and Service Provisioning, VP Operation and Infrastructure, Manager Front End 1, Manager Back End 2, and Senior Programmer. Results of this research are 9 critical information assets in credit card payment gateway in COMPANY, such as : Card Holder Data & Customer Credential, Data Center, Physical Devices, Logical Storage, Logical Network, Supporting Software, Core Application, Encryption Key, and Human Resources. There are 21 risks that may occur during in credit card payment gateway. From 21 risks that were identified, obtained 15 risks are defer, 3 risks to be acceptable, and 3 risks should be mitigate.

scholarly journals Improving risk assessment by defining consistent and reliable system scenarios

2009 ◽  
Vol 9 (1) ◽  
pp. 145-159 ◽  
Author(s):  
B. Mazzorana ◽  
J. Hübl ◽  
S. Fuchs
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Sediment Transport ◽  
Scenario Analysis ◽  
Scenario Planning ◽  
Control Measures ◽  
Hazard Mapping ◽  
System Response ◽  
Potential System ◽  
Formative Scenario Analysis

Abstract. During the entire procedure of risk assessment for hydrologic hazards, the selection of consistent and reliable scenarios, constructed in a strictly systematic way, is fundamental for the quality and reproducibility of the results. However, subjective assumptions on relevant impact variables such as sediment transport intensity on the system loading side and weak point response mechanisms repeatedly cause biases in the results, and consequently affect transparency and required quality standards. Furthermore, the system response of mitigation measures to extreme event loadings represents another key variable in hazard assessment, as well as the integral risk management including intervention planning. Formative Scenario Analysis, as a supplement to conventional risk assessment methods, is a technique to construct well-defined sets of assumptions to gain insight into a specific case and the potential system behaviour. By two case studies, carried out (1) to analyse sediment transport dynamics in a torrent section equipped with control measures, and (2) to identify hazards induced by woody debris transport at hydraulic weak points, the applicability of the Formative Scenario Analysis technique is presented. It is argued that during scenario planning in general and with respect to integral risk management in particular, Formative Scenario Analysis allows for the development of reliable and reproducible scenarios in order to design more specifically an application framework for the sustainable assessment of natural hazards impact. The overall aim is to optimise the hazard mapping and zoning procedure by methodologically integrating quantitative and qualitative knowledge.

scholarly journals Current and planned research for managing the fruit fly threat to New Zealand

2019 ◽  
Vol 72 ◽  
pp. 279
Author(s):  
David A.J. Teulon ◽  
John M. Kean ◽  
Karen F. Armstrong
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
New Zealand ◽  
Fruit Fly ◽  
Fruit Flies ◽  
Bactrocera Tryoni ◽  
The World ◽  
Increasing Risk ◽  
Management Diagnostics ◽  
The Impact

Fruit flies (Family Tephritidae), in particular the Queensland fruit fly (Bactrocera tryoni; QFF), areone of the biggest biosecurity risks for New Zealand horticulture. New Zealand has one of the bestscience-based biosecurity systems in the world, based on years of experience and sound research. Theintroduction of fruit flies to New Zealand is now well managed in commercial fruit imports, but the riskis rising from growing trade and travel and, in the case of QFF, climatic adaptation and spread to moresouthern localities. Smarter solutions are continually needed to manage this increasing risk, and to dealwith such pests when they arrive. We present a brief summary of current and anticipated research aimedat reducing the likelihood of entry into New Zealand and/or minimising the impact for the fruit flyspecies of greatest threat to New Zealand. Research spans risk assessment, pathway risk management,diagnostics, surveillance and eradication.

FDA-iRISK—A Comparative Risk Assessment System for Evaluating and Ranking Food-Hazard Pairs: Case Studies on Microbial Hazards

2013 ◽  
Vol 76 (3) ◽  
pp. 376-385 ◽  
Author(s):  
YUHUAN CHEN ◽  
SHERRI B. DENNIS ◽  
EMMA HARTNETT ◽  
GREG PAOLI ◽  
RÉGIS POUILLOT ◽  
...  
Keyword(s):  
Public Health ◽  
Risk Assessment ◽  
Case Studies ◽  
Assessment System ◽  
Process Models ◽  
Control Measures ◽  
Quantitative Risk Assessment ◽  
The Public ◽  
Life Years ◽  
The Impact

Stakeholders in the system of food safety, in particular federal agencies, need evidence-based, transparent, and rigorous approaches to estimate and compare the risk of foodborne illness from microbial and chemical hazards and the public health impact of interventions. FDA-iRISK (referred to here as iRISK), a Web-based quantitative risk assessment system, was developed to meet this need. The modeling tool enables users to assess, compare, and rank the risks posed by multiple food-hazard pairs at all stages of the food supply system, from primary production, through manufacturing and processing, to retail distribution and, ultimately, to the consumer. Using standard data entry templates, built-in mathematical functions, and Monte Carlo simulation techniques, iRISK integrates data and assumptions from seven components: the food, the hazard, the population of consumers, process models describing the introduction and fate of the hazard up to the point of consumption, consumption patterns, dose-response curves, and health effects. Beyond risk ranking, iRISK enables users to estimate and compare the impact of interventions and control measures on public health risk. iRISK provides estimates of the impact of proposed interventions in various ways, including changes in the mean risk of illness and burden of disease metrics, such as losses in disability-adjusted life years. Case studies for Listeria monocytogenes and Salmonella were developed to demonstrate the application of iRISK for the estimation of risks and the impact of interventions for microbial hazards. iRISK was made available to the public at http://irisk.foodrisk.org in October 2012.

ENVIRONMENTAL RISK MANAGEMENT: A PROPOSED SCHEME

1997 ◽  
Vol 37 (1) ◽  
pp. 714
Author(s):  
H.B. Goff ◽  
R.K. Steedman
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Environmental Risk ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Transport Processes ◽  
Assessment Process ◽  
Gas Industry ◽  
Environmental Risk Management ◽  
The Impact

Environmental risk assessment is becoming an increasingly important factor in the assessment process for new projects. The oil and gas industry is familiar with assessing and managing risks from a wide range of sources. In particular, risk assessment and management is fundamental to the evaluation and implementation of Safety cases. Risk assessment is essential in valuing exploration acreage. Various industry and government risk management standards and criteria have been developed for public and occupational health and safety.This paper examines the extension of these approaches to environmental risk management for the offshore oil and gas industry and proposes a conceptual management scheme.We regard risk as the probability of an event occurring and the consequences of that event. The risk is classified into four categories, namely:primary risk, which relates to the mechanical oilfield equipment;secondary risk, which relates to the natural transport processes. For example dispersion of oil in the water column and surrounding sea;the tertiary risk, which relates to the impact on some defined part of the physical, biological or social environment; andthe quaternary risk, which relates to the recovery of the environment from any impact.Generally the methods of quantitatively analysing primary and secondary risks are well known, while there remains considerable uncertainty surrounding the tertiary and quaternary risk and they are at best qualitative only. An example of the method is applied to coral reef and other sensitive areas which may be at risk from oil spills.This risk management scheme should assist both operators and regulators in considering complex environmental problems which have an inherent uncertainty. It also proves a systematic approach on which sound environmental decisions can be taken and further research and analysis based. Perceived risk is recognised, but the management of this particular issue is not dealt with.

Limits to natural disasters management: the influence of human behavior

2020 ◽  
Author(s):  
Jeroen Aerts
Keyword(s):  
Climate Change ◽  
Risk Assessment ◽  
Risk Management ◽  
Natural Disasters ◽  
Human Behavior ◽  
Flood Risk ◽  
Behavioral Adaptation ◽  
Risk Models ◽  
Physically Based ◽  
The Impact

<p>Despite billions of dollars of investments in disaster risk reduction (DRR), data over the period 1994- 2013 show natural disasters caused 1.35 million lives. Science respond with more timely and accurate information on the dynamics of risk and vulnerability of natural hazards, such as floods. This information is essential for designing and implementing effective climate change adaptation and DRR policies. However, how much do we really know about how the main agents in DRR (individuals, businesses, government, NGO) use this data? How do agents behave before, during, and after a disaster, since this can dramatically affect the impact and recovery time. Since existing risk assessment methods rarely include this critical ‘behavioral adaptation’ factor, significant progress has been made in the scientific community to address human adaptation activities (development of flood protection, reservoir operations, land management practices) in physically based risk models.</p><p>This presentation gives an historic overview of the most important developments in DRR science for flood risk. Traditional risk methods integrate vulnerability and adaptation using a ‘top- down’ scenario approach, where climate change, socio economic trends and adaptation are treated as external forcing to a physically based risk model (e.g. hydrological or storm surge model). Vulnerability research has made significant steps in identifying the relevant vulnerability indicators, but has not yet provided the necessary tools to dynamically integrate vulnerability in flood risk models.</p><p>However, recent research show novel methods to integrate human adaptive behavior with flood risk models. By integrating behavioral adaptation dynamics in Agent Based Risk Models, may lead to a more realistic characterization of the risks and improved assessment of the effectiveness of risk management strategies and investments. With these improved methods, it is also shown that in the coming decades, human behavior is an important driver to flood risk projections as compared to other drivers, such as climate change. This presentation shows how these recent innovations for flood risk assessment provides novel insight for flood risk management policies.</p>

scholarly journals A DYNAMIC RISK ASSESSMENT MODELING BASED ON FUZZY ANP FOR SAFETY MANAGEMENT SYSTEMS

Aviation ◽  
2018 ◽  
Vol 22 (4) ◽  
pp. 143-155
Author(s):  
Masoud Rezaei ◽  
Naimeh Borjalilu
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Evaluation Method ◽  
Safety Management ◽  
Traditional Approach ◽  
Risk Index ◽  
Two Dimensional ◽  
Fuzzy Anp ◽  
New Model ◽  
The Impact

Risk assessment in large organizations with extensive operational domains has been a challenging issue. Employing an efficient method along with realistic pair comparisons, applying subjective inferences of organization experts, and purging the intrinsic ambiguity of inferences, are not reflected in current airlines' safety management. Traditional two-dimensional risk assessment for risk management of safety hazards, however, is no longer sufficient to comply with this complexity. A new model for risk management and a novel formula for risk index calculation, based on a fuzzy approach, are presented in this study. In this new model, unlike in the traditional approach, the latent aftermath of safety reports, especially those which affect the continuity of the business, is also taken into account. In this model, along with the definition of a new structure for risk management, risk analysis should be restructured. To that end, a two-dimensional classic risk formula was replaced with three-dimensional (nonlinear) exponential ones, considering “the impact on the business” as a source of risk and hazard. For measuring the safety risk using the Fuzzy hierarchical evaluation method, considering experts' opinions, three criteria in four different operational fields were developed. This method employs a Fuzzy ANP to help quantify judgments, make qualitative judgments in the traditional method, and weigh the priority of elements contributing to risk. Also, it provides a tool for top-level as well as expert level management to monitor safety more precisely, monitor the safety level within their departments or organizations, set quantitative safety goals and provide feedback for improvement as well as find the most critical areas with the least cost. In this study, an airline has been selected as a case study for the risk assessment of reports based on the new model.

scholarly journals Toolset for financial risk strategic assessment in corporations based on stochastic modeling

2020 ◽  
Vol 9 (28) ◽  
pp. 451-464
Author(s):  
Viktoriya Manuylenko ◽  
Denis Ryzin ◽  
Natalia Gryzunova ◽  
Olga Bigday ◽  
Olga Mandrytsa
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Financial Risk ◽  
Assessment Model ◽  
Financial Risks ◽  
Financial Leverage ◽  
Financial Risk Management ◽  
Environment Factors ◽  
Target Values ◽  
The Impact

The study substantiates the need to develop and test a model for assessment of strategic financial risk level in corporations. It implies modeling for two indicators: relative (financial leverage) and absolute (external capital of indicators). The model should also take into account influence of emergent environment factors and most stakeholder groups’ interests when building scenarios for their behaviors in the financial markets –Implementation of the model allows establishing financial risk target values considering deviation calculations between the indicators’ modeled and actual values simultaneously determining both tactical and strategic guidelines for Financial Risk Management Policy in corporations, which should involve stakeholders into financial risk-taking process. The model implementation also should be the basis for development and improvement of risk-based forecasting tools, business planning and stress testing. The toolkit for assessing level of current and strategic financial risks in corporations based on simulation modeling was developed and implemented with attraction of general scientific and special methods. Direct results of the study are as follows: in theoretical block of the research – essentially, main attributes of financial risks classification for corporations are identified; they are recognized by time as retrospective, current and strategic financial risks, and correct classification of the latter allows their identification, evaluation and regulation; in practical block of the research – evaluation of financial risk in corporations reveals that the risk apart from other internal factors is highly affected by the level of financial leverage, where its high value increases financial risk; still, corporations do not take into account the influence of environmental factors on its level; the role of tax risk as a part of financial risk is not significant, still it is unfortunate that the Russian legislation system allows double taxation on income tax in the form of dividends, and dividend policy of Russian corporations is unstable; in methodological block of the research –financial risk assessment model for corporations was developed and tested on a platform of a special new software product that determines the target level of financial risk; the model differs from standard approaches to financial risk assessment as it carries strategic forecasting nature and takes into account the impact of emergent environment factors; thus it promotes new areas in strategic financial risk management.

scholarly journals The Impact of Information System Risk Management on the Frequency and Intensity of Security Incidents

2017 ◽  
Vol 8 (2) ◽  
pp. 41-46
Author(s):  
Hrvoje Očevčić ◽  
Krešimir Nenadić ◽  
Krešimir Šolić ◽  
Tomislav Keser
Keyword(s):  
Information System ◽  
Risk Management ◽  
Control Measures ◽  
Security Risk ◽  
Methodology Development ◽  
Positive Effects ◽  
System Risk ◽  
Security Risk Management ◽  
Mitigation Methods ◽  
The Impact

The survey identified positive effects of work on information security risk management. Regarding the survey results of information system incidents, a significant reduction was recorded in the number of system downtime incidents. The scope of implementation of the risk assessment methodology is the whole ICT system, and therefore the implementation covers all parts of information assets. Positive effects are obtained by reducing the risk by known mitigation methods. Technical details of the implemented control measures were not considered in this paper. In accordance with the standards used in methodology development, significant and increasing levels of user awareness of ICT systems have been considered. The effects of all implemented measures have resulted in a significant increase in the availability of parts of ICT systems

scholarly journals Agricultural Risk Management Using Fuzzy TOPSIS Analytical Hierarchy Process (AHP) and Failure Mode and Effects Analysis (FMEA)

Agriculture ◽  
2020 ◽  
Vol 10 (11) ◽  
pp. 504
Author(s):  
Peyman Zandi ◽  
Mohammad Rahmani ◽  
Mojtaba Khanian ◽  
Amir Mosavi
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Failure Mode ◽  
Analytical Hierarchy Process ◽  
Failure Modes ◽  
Fuzzy Topsis ◽  
Control Measures ◽  
Management Tool ◽  
Agricultural Risk ◽  
Hierarchy Process

Failure mode and effects analysis (FMEA) is a popular technique in reliability analyses. In a typical FMEA, there are three risk factors for each failure modes: Severity (S), occurrence (O), and detectability (D). These will be included in calculating a risk priority number (RPN) multiplying the three aforementioned factors. The literature review reveals some noticeable efforts to overcome the shortcomings of the traditional FMEA. The objective of this paper is to extend the application of FMEA to risk management for agricultural projects. For this aim, the factor of severity in traditional FMEA is broken down into three sub-factors that include severity on cost, the severity on time, and severity on the quality of the project. Moreover, in this study, a fuzzy technique for order preference by similarity to ideal solution (TOPSIS) integrated with a fuzzy analytical hierarchy process (AHP) was used to address the limitations of the traditional FMEA. A sensitivity analysis was done by weighing the risk assessment factors. The results confirm the capability of this Hybrid-FMEA in addressing several drawbacks of the traditional FMEA application. The risk assessment factors changed the risk priority between the different projects by affecting the weights. The risk of water and energy supplies and climate fluctuations and pests were the most critical risk in agricultural projects. Risk control measures should be applied according to the severity of each risk. Some of this research’s contributions can be abstracted as identifying and classifying the risks of investment in agricultural projects and implementing the extended FMEA and multicriteria decision-making methods for analyzing the risks in the agriculture domain for the first time. As a management tool, the proposed model can be used in similar fields for risk management of various investment projects.

scholarly journals Impact of Forensic Accounting on Financial Fraud Detection in Deposit Money Banks in Nigeria

2021 ◽  
Vol 4 (3) ◽  
pp. 74-119
Author(s):  
Edward Idemudia Agboare
Keyword(s):  
Fraud Detection ◽  
Control Measures ◽  
Primary Data ◽  
Financial Fraud ◽  
Biometric Authentication ◽  
Automated Control ◽  
Fraud Risk ◽  
Forensic Accounting ◽  
Financial Transactions ◽  
The Impact

The study examines the impact of forensic accounting on financial fraud detection in Deposit Money Banks (DMBs) in Nigeria. Survey research design was employed for the study with extensive reliance on primary data obtained through the use of structured Likert scale questionnaire. The data were tested using descriptive statistics and regression analysis on Statistical Package for Social Sciences (SPSS version 20.0). The study findings showed that forensic accounting techniques of conducting investigation, analyzing financial transactions and reconstructing incomplete accounting records have significant effect on financial fraud detection in deposit money banks in Nigeria. In the light of the study findings, the following recommendations were provided; more forensic accountants should be employed by DMBs in Nigeria to assist curb modern day financial fraud brought about by advancement in technology. The Central Bank of Nigeria (CBN) should in collaboration with all financial institutions establish an electronic fraud risk information center staffed with forensic accountants. DMBs should incorporate automated control measures such as biometric authentication of transactions to serve as deterrent for fraud occurring.

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