scholarly journals Commercial Maritime and Cyber Risk Management

2019 ◽  
Vol 5 (1) ◽  
pp. 46-48
Author(s):  
Akash RANA
Keyword(s):  
Risk Management ◽  
Best Practices ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Signal Interference ◽  
Cyber Crime ◽  
British Government ◽  
Code Of Practice ◽  
Starting Point ◽  
Cyber Risk

The starting point of the paper is the recognition of the growing threat of cyber-attacks to commercial maritime. Constantly growing dependency on technology has obvious advantages, on the other hand, however, it makes commercial maritime vessels progressively more vulnerable to cyber-crime, including GPS signal interference, malware attacks or even gaining control over ships’ systems and networks. The main objective of the paper is to present and discuss the Guidelines on Cyber Security Onboard Ships developed by the International Maritime Organization, including best practices for implementation of cyber risk management. The article’s goal is to summarize the guidelines and to familiarize the reader with the reasons why and the methods how they should be implemented. The paper is concluded with an example how the Guidelines can be adopted by national authorities, i.e., a brief presentation of “Code of Practice: Cyber Security for Ships” – a document developed by the British government that transposes the IMO guidelines.

scholarly journals RISK MANAGEMENT IN THE FINANCIAL SECTOR OF UKRAINE IN THE CONTEXT OF CYBER THREATS AND POST-PANDEMIC ECONOMIC RECOVERY

2021 ◽  
pp. 19-27
Author(s):  
Nazar Demchyshak ◽  
Anastasiia Shkyria
Keyword(s):  
Risk Management ◽  
National Security ◽  
Cyber Security ◽  
Financial Sector ◽  
Cyber Attacks ◽  
Cyber Threats ◽  
The World ◽  
Cyber Threat ◽  
Security Index ◽  
Cyber Risk

Purpose. The aim of the article is substantiation of approaches of domestic and foreign scientists to risk management in the financial sector of Ukraine in the context of cyber threats and the need to ensure national security and post-pandemic economic recovery. Methodology of research. General scientific and special methods of scientific research are used in the article, in particular: induction, deduction, scientific abstraction - to reveal the essence of the concepts of "cyber threat", “cyber security" and "digitalization"; statistical and graphical methods - to assess the current situation in the field of cyber defence in the world and the national cyber security index; methods of analysis and synthesis - in substantiating the conclusions of the research. Finding. Definitions of cyber risk, approaches to its interpretation and classification were considered. The importance of cyber security in the digitalization of the national economy was argued. The Strategy of Ukrainian Financial Sector Development until 2025 is analysed. The world statistics of frequency and losses due to cyber-attacks are studied and the cyber threats that caused the greatest losses in Ukraine are identified. The analysis of Ukraine’s positions in the National Cyber Security Index 2020 is carried out. The directions of cyber threat prevention that can be useful for Ukrainian companies are substantiated. Originality. The author’s definition of the term "cyber risk" is proposed, in which special attention in focused on the effects of cyber threats. The importance of cyber risk management in the conditions of inevitability of digitalization in the financial sector of Ukraine is substantiated. Approaches to the prevention of cyber-attacks, the implementation of which is necessary for the successful digital transformation of Ukraine, are proposed. Practical value. The results of the research will contribute to the formation of an effective risk management system in the financial sector of Ukraine in terms of digitalization of the financial space and post-pandemic recovery of the national economy. Key words: national security, cyber risk, cyber threat, cyber defence, digitalization, post-pandemic recovery, fintech.

scholarly journals Cyber-risk management: identification, prevention, and mitigation techniques

2021 ◽  
Author(s):  
Naveen Kunnathuvalappil Hariharan
Keyword(s):  
Risk Management ◽  
Cyber Security ◽  
Critical Infrastructure ◽  
Identity Theft ◽  
Cyber Attacks ◽  
Cyber Terrorism ◽  
Mitigation Techniques ◽  
Cyber Risk ◽  
Careful Management

Cyber-attacks on critical infrastructure, as well as the possibility of cyber-terrorism and even cyberwarfare, pose a threat to societies on a larger scale. Stakeholders are vulnerable to information theft,service disruptions, privacy and identity theft, fraud, espionage and sabotage. This article provides abrief overview of risk management, with a particular emphasis on cyber security and cyber-riskassessment. This article provides an overview of risk management, with a particular emphasis oncyber security detection, prevention, and mitigation techniques. We showed how organizations couldmitigate their cyber risk with careful management.

scholarly journals Design of a dynamic and self-adapting system, supported with artificial intelligence, machine learning and real-time intelligence for predictive cyber risk analytics in extreme environments – cyber risk in the colonisation of Mars

2021 ◽  
Author(s):  
Petar Radanliev ◽  
David De Roure ◽  
Kevin Page ◽  
Max Van Kleek ◽  
Omar Santos ◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Real Time ◽  
Cyber Security ◽  
Extreme Environments ◽  
Learning Technologies ◽  
Cyber Attacks ◽  
Edge Computing ◽  
Mathematical Formulas ◽  
Cyber Risk

AbstractMultiple governmental agencies and private organisations have made commitments for the colonisation of Mars. Such colonisation requires complex systems and infrastructure that could be very costly to repair or replace in cases of cyber-attacks. This paper surveys deep learning algorithms, IoT cyber security and risk models, and established mathematical formulas to identify the best approach for developing a dynamic and self-adapting system for predictive cyber risk analytics supported with Artificial Intelligence and Machine Learning and real-time intelligence in edge computing. The paper presents a new mathematical approach for integrating concepts for cognition engine design, edge computing and Artificial Intelligence and Machine Learning to automate anomaly detection. This engine instigates a step change by applying Artificial Intelligence and Machine Learning embedded at the edge of IoT networks, to deliver safe and functional real-time intelligence for predictive cyber risk analytics. This will enhance capacities for risk analytics and assists in the creation of a comprehensive and systematic understanding of the opportunities and threats that arise when edge computing nodes are deployed, and when Artificial Intelligence and Machine Learning technologies are migrated to the periphery of the internet and into local IoT networks.

Cyber risk management in SMEs: insights from industry surveys

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Felicitas Hoppe ◽  
Nadine Gatzert ◽  
Petra Gruner
Keyword(s):  
Risk Management ◽  
Cyber Security ◽  
Future Research ◽  
Management Process ◽  
Content Type ◽  
Security Culture ◽  
Current State ◽  
Enterprise Risk ◽  
Risk Management Process ◽  
Cyber Risk

PurposeThis article aims to gain insights on the current state of small- and medium-sized enterprises’ (SMEs’) cyber risk management process and to derive future research directions.Design/methodology/approachThis is done by collecting market insights from 37 recent industry surveys and structuring them based on the steps of the risk management process. From this analysis, major challenges are derived and future fields of research identified.FindingsThe results indicate that deficiencies in risk culture as well as the strained market for IT experts are the major obstacles with respect to the implementation of cyber risk management in SMEs, and that these challenges are similar across countries. The findings suggest that especially the relationship between cyber security culture and cyber risk management should be investigated further, and that a stronger link between the research streams on enterprise risk management and cyber risk management would be desirable.Originality/valueThis paper contributes to the literature by providing a systematic overview on the current state of SMEs' cyber risk management from a market perspective. The findings provide support for the existing academic literature by emphasizing the central role of cyber security culture (perception, knowledge, attitude) for a successful cyber risk management, which however should be addressed in more depth in future (empirical) research.

Cybersecurity From Field to Host

2016 ◽  
Author(s):  
Lee A. Cysouw ◽  
Douglas C. Osburn ◽  
Nader M. Rabadi
Keyword(s):  
Best Practices ◽  
Control Systems ◽  
Cyber Security ◽  
Measurement Data ◽  
Cyber Attacks ◽  
Operating Costs ◽  
Data Monitoring ◽  
Industry Standards ◽  
And Control ◽  
Remote Communications

Remote communications to field devices for data monitoring and controls has greatly reduced operating costs, reduced downtime, and helped to optimize our industry. With the ever growing threat of cyber-attacks, the need for securing that data is becoming a more common topic of discussion. Whether collecting SCADA or Measurement data from the field, doing remote configuration, or even sitting dormant, it is important to keep the line of communication to your devices secure. This presentation will discuss potential threats and examples of cyber-attacks. It will cover industry standards, types of cyber security, and the importance and best practices for securing data for Measurement and/or SCADA and control systems.

scholarly journals Rising Cyber Crime in Rural India: A Review

2021 ◽  
pp. 199-205
Author(s):  
Syed Ubaid ◽  
Shakil ◽  
Mohammed Talha Alam ◽  
Shahab Saquib Sohail
Keyword(s):  
Cyber Security ◽  
Rural Areas ◽  
Cyber Attacks ◽  
Rural India ◽  
Cyber Crime ◽  
Cyber Attack ◽  
Rural People ◽  
Work From Home ◽  
Government Websites

This paper analyses the increasing cyber-crime in India, especially in the rural areas, andcyber-attacks on service-providing government websites. Cyber-attacks are viewed within the context of important events to reveal the effectiveness of cyber-attack campaigns. The analysis highlights the range of cyber issues experienced during the lockdown in the country due to the COVID-19 pandemic. The paper shows how work-from-home campaigns digitalize the population, and how rural people become the victim of cyber-attacks. The analysis also emphasizes possible solutions to strengthen cyber security.

Obtaining reasonable assurance on cyber resilience

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Filip Caron
Keyword(s):  
Risk Management ◽  
Real World ◽  
Cyber Security ◽  
Design Methodology ◽  
Content Type ◽  
Security Controls ◽  
Conceptual Designs ◽  
Testing Techniques ◽  
Traditional Process ◽  
Cyber Risk

PurposeThe purpose of this paper is to highlight the potential of cyber-testing techniques in assessing the effectiveness of cyber-security controls and obtaining audit evidence.Design/methodology/approachThe paper starts with an identification of the applicable cyber-testing techniques and evaluates their applicability to generally accepted assurance schemes and cyber-security guidelines.FindingsCyber-testing techniques are providing insight in the effectiveness of the actual implementation of cyber-security controls, which may significantly deviate from the conceptual designs of these controls. Furthermore, cyber-testing techniques could provide concise input for cyber-risk management and improvement recommendations.Originality/valueThe presented cyber-testing techniques could complement traditional process-oriented assurance techniques with specialized technical analyses of real-world implementations that focus on the adversaries’ viewpoint.

scholarly journals Statistical Indicators of Cybersecurity Development in the Context of Digital Transformation of Economy and Society

2021 ◽  
Vol 17 (3) ◽  
pp. 3-13
Author(s):  
Antonina Yerina ◽  
Ihor Honchar ◽  
Svitlana Zaiets
Keyword(s):  
Cyber Security ◽  
Communication Systems ◽  
Large Scale ◽  
Digital Transformation ◽  
Cyber Attacks ◽  
Cyber Threats ◽  
Level Of Economic Development ◽  
Information And Communication ◽  
High Level ◽  
Cyber Risk

Introduction. The scale and destructive consequences of the unlawful impact on cyberspace is a key problem of modern geopolitics, and cyber reliability is recognized as one of the most important security priorities by the subjects of international relations.Problem Statement. Monitoring of cyber incidents and anomalies in information and communication systems and prompt response to risks determined by cyber threats require the development of a system of indicators and criteria for cybersecurity assessment.Purpose. Summarize the international experience of assessing the cybersecurity, to position countries by their level of development in the global space, to identify strengths and weaknesses in cybersecurity management, and to ensure effective protection of cyberspace at the national level.Materials and Methods. Used the component indices of the international rankings characterizing the potential of the digital economy (ICT IDI, NRI, EGDI) and the participation of countries in the field of cybersecurity(GCI and NCSI).Results. It has been argued that cybersecurity ratings play the role of a kind of identifier of the relative advantages and vulnerabilities of the national cyber strategies, and indicate the need for their review in order tostrengthen protection against cyber-attacks and improve the cyber risk management system. In countries with a high level of economic development, which is largely based on the contribution of IT technologies to the national production, the cybersecurity potential is significantly higher, regardless of geolocation. The discovered correlation between GCI, information society development indices (IDI, NRI, EGDI) and GDPper capita confirms that the digital transformation of the economy and society acts as a key driver of economicdevelopment if the information- and cyber-security are assured only. The best practices are highlighted, andcritically weak segments of the national cybersecurity are identified.Conclusions. Using the NCSI indicators, the preparedness of Georgia and Ukraine to prevent the implementation of fundamental cyber threats and to manage cyber incidents and large-scale cyber crises is assessed.

scholarly journals FORECASTING COSTS OF CYBER ATTACKS USING ESTIMATION THE GLOBAL COST OF CYBER RISK CALCULATOR V 1.2

2021 ◽  
Author(s):  
Julija Gavėnaitė-Sirvydienė ◽  
Algita Miečinskienė
Keyword(s):  
Cyber Security ◽  
Cyber Attacks ◽  
Future Research ◽  
Risk Calculator ◽  
Estimation Model ◽  
The Public ◽  
Security Issues ◽  
Baltic Countries ◽  
Global Cost ◽  
Cyber Risk

Purpose – due to the constant increase of cyber-attacks not only the measures of identifying and controlling cyber risks are created, but also the methods of estimating possible cyber-attacks financial costs should be developed to increase business preparedness. The purpose of this research is to forecast potential costs of cyber-attacks in Baltic countries. Research methodology – to achieve the aim of the article and prepare a prognosis of possible cyber-attacks costs the Estimation the Global Costs of Cyber Risk Calculator V 1.2 tool was used. Findings – estimated costs of cyber-attacks in Lithuania, Latvia and Estonia are highest in the public business and ser-vices sector and also in the defense sector. According to conducted calculations the costs of cyber-attacks in Lithuania will reach 1% of GDP of Lithuania by 2026. Research limitations – in this research the costs of cyber-attacks are estimated regarding industries of business but not excluding specific cyber threats. Therefore, for the future research possibilities could be the analyses of specific cyber risks and their impact to various business sectors. Practical implications – the results of the research may be useful in practical approach for preparing the risk manage-ment tools, evaluating possible damage and effect of cyber-attacks to business, also increasing preparedness level and business resilience. Originality/Value – this estimation model has been not used to evaluate and discuss cyber-risks costs in Lithuania among previous researches, therefore the topic and conducted results are original and significantly relevant for further analyses of cyber security issues in Lithuania.

scholarly journals Electronic fraud (cyber fraud) risk in the banking industry Zimbabwe

2014 ◽  
Vol 4 (2) ◽  
pp. 17-27
Author(s):  
Shewangu Dzomira
Keyword(s):  
Content Analysis ◽  
Cyber Security ◽  
Banking Industry ◽  
Descriptive Study ◽  
Cyber Attacks ◽  
Sampling Techniques ◽  
Cyber Crime ◽  
Technological Systems ◽  
Fraud Risk ◽  
Education And Awareness

The paper explores forms of electronic fraud which are being perpetrated in the banking industry and the challenges being faced in an attempt to combat the risk. The paper is based on a descriptive study which studied the cyber fraud phenomenon using content analysis. To obtain the data questionnaires and interviews were administered to the selected informants from 22 banks. Convenience and judgemental sampling techniques were used. It was found out that most of the cited types of electronic fraud are perpetrated across the banking industry. Challenges like lack of resources (detection tools and technologies), inadequate cyber-crime laws and lack of knowledge through education and awareness were noted. It is recommended that the issue of cyber security should be addressed involving all the stakeholders so that technological systems are safeguarded from cyber-attacks.

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