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.

Economics of Cyber Security and the Way Forward

2018 ◽  
pp. 132-150
Author(s):  
Taiseera Al Balushi ◽  
Saqib Ali ◽  
Osama Rehman
Keyword(s):  
Communication Technology ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Remote Access ◽  
Security Threats ◽  
The Public ◽  
Security Issues ◽  
Information And Communication ◽  
Financial Losses ◽  
Government Perspective

Initiatives carried by companies, institutes and governments to flourish and embellish the Information and Communication Technology (ICT) among the public have led to its penetration into every walk of life. ICT enhances the efficiency of various systems, such as the organisation and transfer of data. However, with the digital and remote access features of ICT comes the motivation towards financial, political and military gains by rivals. Security threats and vulnerabilities in existing ICT systems have resulted in cyber-attacks that are usually followed by substantial financial losses. This study discusses the security in ICT from a business, economic and government perspective. The study makes an attempt to understand the seriousness of the security issues and highlights the consequences of security breech from an economic perspective. Based on the performed analysis, the factors behind these attacks are provided along with recommendations for better preparations against them.

Economics of Cyber Security and the Way Forward

2016 ◽  
Vol 6 (4) ◽  
pp. 41-57
Author(s):  
Taiseera Al Balushi ◽  
Saqib Ali ◽  
Osama Rehman
Keyword(s):  
Communication Technology ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Remote Access ◽  
Security Threats ◽  
The Public ◽  
Security Issues ◽  
Information And Communication ◽  
Financial Losses ◽  
Government Perspective

Initiatives carried by companies, institutes and governments to flourish and embellish the Information and Communication Technology (ICT) among the public have led to its penetration into every walk of life. ICT enhances the efficiency of various systems, such as the organisation and transfer of data. However, with the digital and remote access features of ICT comes the motivation towards financial, political and military gains by rivals. Security threats and vulnerabilities in existing ICT systems have resulted in cyber-attacks that are usually followed by substantial financial losses. This study discusses the security in ICT from a business, economic and government perspective. The study makes an attempt to understand the seriousness of the security issues and highlights the consequences of security breech from an economic perspective. Based on the performed analysis, the factors behind these attacks are provided along with recommendations for better preparations against them.

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.

Efficient Cyber Security Framework for Smart Cities

2019 ◽  
pp. 130-157 ◽  
Author(s):  
Amtul Waheed ◽  
Jana Shafi
Keyword(s):  
Cyber Security ◽  
Smart City ◽  
Smart Cities ◽  
Cost Effective ◽  
Cyber Attacks ◽  
Security And Privacy ◽  
Sensitive Information ◽  
Security Framework ◽  
Smart Transportation ◽  
Security Issues

Smart cities are established on some smart components such as smart governances, smart economy, science and technology, smart politics, smart transportation, and smart life. Each and every smart object is interconnected through the internet, challenging the security and privacy of citizen's sensitive information. A secure framework for smart cities is the only solution for better and smart living. This can be achieved through IoT infrastructure and cloud computing. The combination of IoT and Cloud also increases the storage capacity and computational power and make services pervasive, cost-effective, and accessed from anywhere and any device. This chapter will discuss security issues and challenges of smart city along with cyber security framework and architecture of smart cities for smart infrastructures and smart applications. It also presents a general study about security mechanism for smart city applications and security protection methodology using IOT service to stand against cyber-attacks.

SCADA Systems Cyber Security for Critical Infrastructures

2020 ◽  
pp. 446-464
Author(s):  
Suhaila Ismail ◽  
Elena Sitnikova ◽  
Jill Slay
Keyword(s):  
Decision Making ◽  
Data Acquisition ◽  
Case Studies ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Critical Infrastructures ◽  
Physical Injury ◽  
The Public ◽  
Psychological Theories ◽  
Scada Systems

Past cyber-attacks on Supervisory Control and Data Acquisition (SCADA) Systems for Critical infrastructures have left these systems compromised and caused financial and economic problems. Deliberate attacks have resulted in denial of services and physical injury to the public in certain cases. This study explores the past attacks on SCADA Systems by examining nine case studies across multiple utility sectors including transport, energy and water and sewage sector. These case studies will be further analysed according to the cyber-terrorist decision-making theories including strategic, organisational and psychological theories based on McCormick (2000). Next, this study will look into cyber-terrorist capabilities in conducting attacks according to Nelson's (1999) approach that includes simple-unstructured, advance-structured and complex-coordinated capabilities. The results of this study will form the basis of a guideline that organisations can use so that they are better prepared in identifying potential future cybersecurity attacks on their SCADA systems.

Artificial Intelligence-Based Solutions for Cyber Security Problems

2021 ◽  
pp. 68-86
Author(s):  
Merve Yildirim
Keyword(s):  
Artificial Intelligence ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Network Systems ◽  
Security Systems ◽  
Artificial Intelligence Techniques ◽  
Security Issues ◽  
Security Applications ◽  
Cyber Threats ◽  
Legal Risks

Due to its nature, cyber security is one of the fields that can benefit most from the techniques of artificial intelligence (AI). Under normal circumstances, it is difficult to write software to defend against cyber-attacks that are constantly developing and strengthening in network systems. By applying artificial intelligence techniques, software that can detect attacks and take precautions can be developed. In cases where traditional security systems are inadequate and slow, security applications developed with artificial intelligence techniques can provide better security against many complex cyber threats. Apart from being a good solution for cyber security problems, it also brings usage problems, legal risks, and concerns. This study focuses on how AI can help solve cyber security issues while discussing artificial intelligence threats and risks. This study also aims to present several AI-based techniques and to explain what these techniques can provide to solve problems in the field of cyber security.

scholarly journals Creating and Implementing an Effective and Deterrent National Cyber Security Strategy

2020 ◽  
Vol 2020 ◽  
pp. 1-19
Author(s):  
Mustafa Senol ◽  
Ertugrul Karacuha
Keyword(s):  
Cyber Security ◽  
Integrated Approach ◽  
Basic Structure ◽  
Management Control ◽  
Cyber Attacks ◽  
Security Strategy ◽  
Security Issues ◽  
New Concepts ◽  
National Power ◽  
High Degree

This paper presents a new national cyber security strategy (NCSS) covering the deterrence perspective from creation to implementation. With the aim of responding to and ensuring cyber security effectively, studies on which pathways should be followed and what methods should be used to develop, create, and implement a NCSS are being conducted in Turkey, as in all countries. In this context, by explaining the importance of cyber power, the need for cyber power to be considered as one of the elements of national power and the importance of providing security against cyber attacks with deterrence by cyber power are discussed, while a new and integrated approach for the creation and implementation of a NCSS and an authoritarian organizational structure responsible for this strategy is proposed. It can be concluded that the proposed effective and deterrent NCSS model and approaches might help to efficiently and effectively handle these issues for better management, control, and auditing for cyber security issues; provide new concepts for cyber security issues supported by cyber power and deterrence on this issue in the world; introduce integrated approach to cyber security strategies and policies on the stages of developing and implementing a NCSS; bring a number of issues to support cyber security and defence in different perspectives; and achieve a high degree of success, especially in terms of effectiveness and existing deterrence strategies and action plans of basic structure, with the proposed approach. Finally, it is expected that the proposed strategy, steps, and suggestions might help to improve cyber security issues and national strategies in near future to secure national assessment more than ever with a powerful concept of deterrence. In addition, this approach, which has been put forward for effective implementation of cyber security by ensuring better management, control, and supervision, can be easily used by all other countries.

Reviewing National Cybersecurity Strategies

2018 ◽  
Vol 13 (5) ◽  
pp. 957-966
Author(s):  
Shigeo Mori ◽  
◽  
Atsuhiro Goto
Keyword(s):  
Public Sector ◽  
Cyber Security ◽  
Cyber Attacks ◽  
Maturity Model ◽  
National Strategy ◽  
Global Level ◽  
The Public ◽  
Capacity Enhancement ◽  
National Capacity ◽  
National Campaigns

The damages caused by cyber-attacks are becoming larger, broader and more serious and to include monetary losses and losses of lifeline. Some cyber-attacks are arguably suspected to be parts of national campaigns. Under such circumstances, the public sector must endeavour to enhance the national cybersecurity capacities. There are several benchmarks for national cybersecurity, i.e., a snapshot relative assessment of a nation’s cybersecurity strength at a global level. However, by considering the development of technology, attackers’ skills and capacities of other nations, we believe that it is more important to review the national strategy for cybersecurity capacity enhancement and to ensure that the national capacity advances adequately in the coming years. We propose a method of reviewing national strategies. Additionally, we performed a trial review of the Japanese cybersecurity strategy using the Cybersecurity Capacity Maturity Model for Nations (CSCMMN) developed by the Global Cyber Security Capacity Centre. This trial proved to be workable because it detected various possibly inadequate (insufficient, inappropriate or inefficient, although further investigation is needed) approaches in the Japanese strategy. Moreover, the review also discovered the shortcomings of the capacity areas in the CSCMMN. We plan to improve the reviewing method and develop the improvement process of national strategies for cybersecurity capacity enhancement.

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