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 Tanker Industry is More Ready against Cyber Threats

2019 ◽  
Author(s):  
A Oruc ◽  
Fred Flinstone
Keyword(s):  
Risk Management ◽  
Cyber Security ◽  
Critical Role ◽  
The Other ◽  
Maritime Industry ◽  
Assessment Report ◽  
Cyber Threats ◽  
The World ◽  
Autonomous Ship ◽  
Cyber Risk

Cyber security in the maritime industry became crucial due to both academic researches and incidents. There are academic studies that show vulnerabilities in various navigation equipments such as GPS, ECDIS, AIS and ARPA-Radar. Additionally, there are different cyber incidents around the world. Developments in technology, autonomous ship projects, academic studies and cyber incidents in the sector put in action IMO. As per ISM Code, all shipping companies are mandatory to add “Guidelines on Maritime Cyber Risk Management” manual to their SMS manuals until 1st January 2021. Both OCIMF and CDI failed to be indifferent to developments that are important for tanker operators as well as IMO. While OCIMF added cybersecurity-related questions to vetting programs called TMSA 3 and VIQ 7, CDI also added cybersecurity-related items in SIR 9.8.1 edition. On the other hand, RightShip provides significant vetting service for dry cargo ships. “Inspection and Assessment Report” is issued by RigthShip for dry cargo ships. Questions related with cybersecurity was added with Revision No: 11 dated on 11th May 2017 in “Inspection and Assessment Report”. In this study, cyber security related questions which are asked during TMSA, SIRE and CDI vettings which play a critical role for commercial life of tanker firms, were analyzed. Moreover, questions and efficiency of RightShip that offers vetting service for dry cargo ships, were assessed to maritime cyber security. Also, cybersecurity-related questions in vetting questionnaires were interpreted by the author. These comments rely on benchmarking meetings among tanker operators where the author personally attended, and interview with key persons. Noted observations during vettings may negatively impact both commercial life and reputation of the tanker operators. That’s why the firm names and interviewee names were kept confidential. In this study, it was seen that although IMO demanded verification of cyber security-related implementations for the ship operators until 1st January 2021, this process started earlier for tanker operators.

National Security Policy and Strategy and Cyber Security Risks

2016 ◽  
pp. 22-48 ◽  
Author(s):  
Olivera Injac ◽  
Ramo Šendelj
Keyword(s):  
National Security ◽  
Cyber Security ◽  
Security Policy ◽  
National Policy ◽  
Internet Security ◽  
Cyber Attacks ◽  
National Security Policy ◽  
Security Risks ◽  
Cyber Threats ◽  
Policy And Strategy

This chapter gives explanation on theoretical framework of the national security policy and strategy. Moreover, it analyzes selected countries approaches to cyber security in national policy and how countries build their capacities to face with risks, and address objectives in some cyber security policies. Also, in this chapter are described different sorts and sources of cyber threats, techniques of cyber attacks and frequently used tools (software and hardware) by cyber attackers. In addition, according with Symantec's and Kaspersky's annual report about Internet security threats for 2014, were analyzed the most important cyber threats and attacks during 2013. Furthermore, the chapter shows organization structure of cyber security system of Montenegro, statistical analysis of users activities in cyber space and cyber incidents that happened in Montenegro during 2014.

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 Cyber Threat Intelligence and its Role in Proactive Incident Response

2017 ◽  
Author(s):  
Husam Hassan Ambusaidi ◽  
Dr. PRAKASH KUMAR UDUPI
Keyword(s):  
Early Detection ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Incident Response ◽  
Cyber Threats ◽  
Threat Intelligence ◽  
Reliable Source ◽  
Cyber Threat ◽  
Cyber Threat Intelligence

Every day organizations are targeted by different and sophisticated cyber attacks. Most of these organizations are unaware that they are targeted and their networks are compromised. To detect the compromised networks the organizations need a reliable source of cyber threats information.  Many cyber security service vendors provide threat intelligence information to allow early detection of the cyber threats. This research will explore different type of cyber threat intelligence and its role in proactive incident response. The research study the threat intelligence features and how the threat feeds collected and then distributed.  The research studies the role of cyber threat intelligence in early detection of the threats.

2021-22 Innovative Technologies to Prevent IP Cyber Attacks

2021 ◽  
pp. 84-94
Author(s):  
Mohammed. I. Alghamdi ◽  
Keyword(s):  
Intellectual Property ◽  
National Security ◽  
Cyber Security ◽  
Security Policy ◽  
Secondary Data ◽  
The United States ◽  
Cyber Attacks ◽  
Innovative Technologies ◽  
Government Organizations ◽  
Cyber Threats

The cyber security risks on Intellectual Property (IP) have unfortunately become the center of media attention quite recently. The cyber domain has risen to the front position of national security policy in the United States. This growth has created room for developing a lot of innovative technologies to prevent IP cyber-attacks. Usually, cyber-attacks target private data. But cyber-attacks have recently expanded their threat level to intellectual property. These threats affect companies, people, and even national security. Cyber threats to IP will be victimized by globalization. Hence, this article is aimed to explore existing innovative technologies used to prevent IP cyber-attacks and their future scope. To find out the existing technologies used in the prevention of cyber-attacks, secondary data will be used from recent reports by various public and government organizations, research papers, and news portals, and other relevant sources. Since cyber threats are increasing, a comprehensive, multinational strategy is needed for making better cyber security infrastructure. This strategy would improve international relations, protect international supply chains, innovation, and reduce financial losses.

National Security Policy and Strategy and Cyber Security Risks

2016 ◽  
pp. 100-128
Author(s):  
Olivera Injac ◽  
Ramo Šendelj
Keyword(s):  
National Security ◽  
Cyber Security ◽  
Security Policy ◽  
National Policy ◽  
Internet Security ◽  
Cyber Attacks ◽  
National Security Policy ◽  
Security Risks ◽  
Cyber Threats ◽  
Policy And Strategy

This chapter gives explanation on theoretical framework of the national security policy and strategy. Moreover, it analyzes selected countries approaches to cyber security in national policy and how countries build their capacities to face with risks, and address objectives in some cyber security policies. Also, in this chapter are described different sorts and sources of cyber threats, techniques of cyber attacks and frequently used tools (software and hardware) by cyber attackers. In addition, according with Symantec's and Kaspersky's annual report about Internet security threats for 2014, were analyzed the most important cyber threats and attacks during 2013. Furthermore, the chapter shows organization structure of cyber security system of Montenegro, statistical analysis of users activities in cyber space and cyber incidents that happened in Montenegro during 2014.

scholarly journals Understanding Cyber Time Due to the vast number of high-profile cyber-attacks in 2017, cyber threats are now deeply present within the psyche of all industries and within our private lives. The response has been explosive, fueling rapid increases in technology spending, calls for increased regulation, in cyber workforce expansion and in insurance and risk management strategies. For any of these responses to be effective the math, specifically the impact and realities of time, must be studied very carefully. With hundreds of new attacks launched each minute, traditional technology management approaches are proving inadequate due to the simple fact that they cannot keep up with the pace of the adversaries. Cyber threats can be viewed (Preprint)

2018 ◽  
Author(s):  
Eric Perakslis
Keyword(s):  
Risk Management ◽  
Cyber Security ◽  
Management Strategies ◽  
Unintended Consequences ◽  
Cyber Attacks ◽  
Simple Fact ◽  
Vast Number ◽  
Cyber Threats ◽  
Advanced Persistent Threats ◽  
The Impact

BACKGROUND There is an old expression in agriculture that the best time to plant a tree was 20 years ago. The second best time, is today. This is exactly where we find ourselves today with healthcare cyber security. The systems we use simply were not designed or built, nor are they currently managed, for the types of advanced persistent threats that face us. There are many ways that cyber security and cyber resilience can be approached and optimized but the most significant factor is time. The majority of systems supporting critical healthcare missions were developed over the course of years, or even decades. Major revisions and new features are developed over the course of months and years. Fixes and updates are typically delivered monthly or as daily emergency releases. System operators extend the time to achieve these system improvements with testing and validation of systems, updates, and patches to ensure functionality and that no unintended consequences are being introduced. This extended lifecycle leaves critical missions lacking functionality and exposed to cyber risks on a continual basis. It is impossible for most organizations to stay up to speed with cyber defense. OBJECTIVE To relay the importance of building cyber strategies that understand and optimize the essential nature of cyber time. METHODS NA. Viewpoint piece RESULTS NA - viewpoint Piece CONCLUSIONS Cybersecurity varies greatly from most domains of risk management in that there is always a determined adversary actively executing an agenda that inevitably brings harm to targeted organizations. This adversary is moving at unprecedented speed and organizations must build and execute strategies that enable response and resiliency in real-time to meet this unprecedented level of persistent threat.

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 Impact of Cyber Threats to Nuclear Facility

2020 ◽  
Vol 9 (6) ◽  
Author(s):  
Erasto Kayumbe ◽  
Lucy Michael
Keyword(s):  
Cyber Security ◽  
Cyber Attacks ◽  
Nuclear Materials ◽  
Main Concern ◽  
Cyber Attack ◽  
Nuclear Facility ◽  
Nuclear Facilities ◽  
Cyber Threats ◽  
Cyber Threat ◽  
Threat Mitigation

International community has been traditionally focusing on physical threats to facilities and pass by the threat of a cyber attack on a facility. All the same, due to the growing threat posed by cyber attacks; cyber security is becoming indispensable component of nuclear facilities and it is setting up itself as a main concern for facility operators and national regulators. Consequently, ensuring the security of nuclear facilities is a considerable element, which gears at avoiding theft of nuclear materials and sabotage. For that reason, this paper was set to examine impact of cyber threats to nuclear facility. Specifically, the paper has examined cyber threats, cyber threats to nuclear facility, impact of cyber threats to nuclear facility. It is concluded that cyber threat to nuclear facility is growing despite numerous effort taken to offset the problem. Thus, there is a need either to design or improve available cyber threat mitigation procedure in order to tone down the problem.

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.

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