Download or read book Countering Cyber Threats to Financial Institutions written by Pierre-Luc Pomerleau and published by Springer Nature. This book was released on 2020-08-29 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the negative social impact of cyber-attacks, this book takes a closer look at the challenges faced by both the public and private sectors of the financial industry. It is widely known amongst senior executives in both sectors that cybercrime poses a real threat, however effective collaboration between individual financial institutions and the public sector into detecting, monitoring and responding to cyber-attacks remains limited. Addressing this problem, the authors present the results from a series of interviews with cybersecurity professionals based in Canada in order to better understand the potential risks and threats that financial institutions are facing in the digital age. Offering policy recommendations for improving cybersecurity protection measures within financial institutions, and enhancing the sharing of information between the public and private sector, this book is a timely and invaluable read for those researching financial services, cybercrime and risk management, as well as finance professionals interested in cybersecurity.

Download or read book Hands On Cybersecurity for Finance written by Dr. Erdal Ozkaya and published by Packt Publishing Ltd. This book was released on 2019-01-31 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide that will give you hands-on experience to study and overcome financial cyber threats Key FeaturesProtect your financial environment with cybersecurity practices and methodologiesIdentify vulnerabilities such as data manipulation and fraudulent transactionsProvide end-to-end protection within organizationsBook Description Organizations have always been a target of cybercrime. Hands-On Cybersecurity for Finance teaches you how to successfully defend your system against common cyber threats, making sure your financial services are a step ahead in terms of security. The book begins by providing an overall description of cybersecurity, guiding you through some of the most important services and technologies currently at risk from cyber threats. Once you have familiarized yourself with the topic, you will explore specific technologies and threats based on case studies and real-life scenarios. As you progress through the chapters, you will discover vulnerabilities and bugs (including the human risk factor), gaining an expert-level view of the most recent threats. You'll then explore information on how you can achieve data and infrastructure protection. In the concluding chapters, you will cover recent and significant updates to procedures and configurations, accompanied by important details related to cybersecurity research and development in IT-based financial services. By the end of the book, you will have gained a basic understanding of the future of information security and will be able to protect financial services and their related infrastructures. What you will learnUnderstand the cyber threats faced by organizationsDiscover how to identify attackersPerform vulnerability assessment, software testing, and pentestingDefend your financial cyberspace using mitigation techniques and remediation plansImplement encryption and decryptionUnderstand how Artificial Intelligence (AI) affects cybersecurityWho this book is for Hands-On Cybersecurity for Finance is for you if you are a security architect, cyber risk manager, or pentester looking to secure your organization. Basic understanding of cybersecurity tools and practices will help you get the most out of this book.

Download or read book Cybersecurity in Banking written by and published by GRIN Verlag. This book was released on 2022-11-28 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2022 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, , course: Cybersecurity in Banking, language: English, abstract: Information and communications technology (ICT) has become a vital pillar of modern knowledge-based economies. New technologies, skills, and procedures are the drivers of the new information society. Technologies improve the productivity and competitiveness of businesses while expanding markets and creating new opportunities for employers and employees. However, the use of technological devices, systems, and networks exposes businesses to different risks, thus the need for investment in information security. Information security is defined as the protection of information, systems, devices, and networks from third parties' access, use, disruption, modification, disclosure, and destruction, and ensuring that the data and systems are always available, confidential, and of high integrity. In the digitally connected financial world, inadequate information security will be akin to putting people's and banks’ confidential and financial data at risk. In this sense, risk refers to security breaches resulting in personal embarrassment, financial ruin, stolen trade secrets, and other serious consequences. Malevolent users can exploit the technologies. In addition, banking technology infrastructure could become a target of organised crime and other malpractices. This paper investigates how the banking industry can develop an effective cyber security strategy, as well as the challenges of adequately protecting against potential cyber-attacks.

Download or read book Computer Security Within Financial Institutions written by James Essinger and published by . This book was released on 1996-01-01 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Understanding Cybersecurity Management in FinTech written by Gurdip Kaur and published by Springer Nature. This book was released on 2021-08-04 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uncovers the idea of understanding cybersecurity management in FinTech. It commences with introducing fundamentals of FinTech and cybersecurity to readers. It emphasizes on the importance of cybersecurity for financial institutions by illustrating recent cyber breaches, attacks, and financial losses. The book delves into understanding cyber threats and adversaries who can exploit those threats. It advances with cybersecurity threat, vulnerability, and risk management in FinTech. The book helps readers understand cyber threat landscape comprising different threat categories that can exploit different types of vulnerabilties identified in FinTech. It puts forward prominent threat modelling strategies by focusing on attackers, assets, and software and addresses the challenges in managing cyber risks in FinTech. The authors discuss detailed cybersecurity policies and strategies that can be used to secure financial institutions and provide recommendations to secure financial institutions from cyber-attacks.

Download or read book Computer Security in Financial Organizations written by J. Essinger and published by Elsevier. This book was released on 2014-06-28 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a unique in–depth focus on how financial organizations and suppliers of computer security are currently addressing – in strategic terms – the problem of computer security.Written in an easy to read, non technical style the book is essential reading for all those involved in the management of this sensitive area, from computer security managers, financial directors and managers to analysts and designers in financial software houses.The report analyses the computer security requirements of a wide variety of organizations in the financial services sector, ranging from retail, commercial and investment banks to financial trading and investment management organizations.

Download or read book Cyber Risk for the Financial Sector A Framework for Quantitative Assessment written by Antoine Bouveret and published by International Monetary Fund. This book was released on 2018-06-22 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Financial Cybersecurity Risk Management written by Paul Rohmeyer and published by Apress. This book was released on 2018-12-13 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Collaborative Financial Infrastructure Protection written by Roberto Baldoni and published by Springer Science & Business Media. This book was released on 2012-01-11 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Critical Infrastructure Protection Survey recently released by Symantec found that 53% of interviewed IT security experts from international companies experienced at least ten cyber attacks in the last five years, and financial institutions were often subject to some of the most sophisticated and large-scale cyber attacks and frauds. The book by Baldoni and Chockler analyzes the structure of software infrastructures found in the financial domain, their vulnerabilities to cyber attacks and the existing protection mechanisms. It then shows the advantages of sharing information among financial players in order to detect and quickly react to cyber attacks. Various aspects associated with information sharing are investigated from the organizational, cultural and legislative perspectives. The presentation is organized in two parts: Part I explores general issues associated with information sharing in the financial sector and is intended to set the stage for the vertical IT middleware solution proposed in Part II. Nonetheless, it is self-contained and details a survey of various types of critical infrastructure along with their vulnerability analysis, which has not yet appeared in a textbook-style publication elsewhere. Part II then presents the CoMiFin middleware for collaborative protection of the financial infrastructure. The material is presented in an accessible style and does not require specific prerequisites. It appeals to both researchers in the areas of security, distributed systems, and event processing working on new protection mechanisms, and practitioners looking for a state-of-the-art middleware technology to enhance the security of their critical infrastructures in e.g. banking, military, and other highly sensitive applications. The latter group will especially appreciate the concrete usage scenarios included.

Download or read book Cyber and the City written by Ashley Sweetman and published by Springer Nature. This book was released on 2022-07-25 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cyber security is the greatest risk faced by financial institutions today, a risk they have understood and managed for decades longer than is commonly understood. Ever since the major London banks purchased their first computers in the early 1960s, they have had to balance their dependence on those machines with the need to secure their operations and retain the trust of their customers. Technological change in the second half of the 20th century prompted British banks to reevaluate their function as trusted protectors of wealth. In the City of London, the capital’s oldest area and historically its business and commerce hub, the colossal clearing banks employed newly commercialised electronic computers—the processing power of which could transform the highly clerical clearing and settlement process. What unfolded over the following three decades was a relentless modernisation drive. Revolutionising the way that banks and other financial institutions conducted business and interacted with each other and permanently altering the speed and scale at which the United Kingdom’s financial sector functioned, this rapid modernisation thrust computer security into the consciousness of bank executives and their clients alike. Dependence on computers quickly grew, and the banks immediately realised the need to secure their new software and hardware. Focusing on the period 1960 to 1990, this book uses newly released and previously unexplored archival material to trace the origins of cyber security in the UK financial sector. Topics and features: Describes how institutions managed the evolving challenge of computer security in the second half of the 20th century Demonstrates continuity in banks' views of security through the prism of confidentiality, integrity and availability, and the concept of resilience Presents case studies of bank collaboration on computer security through creation of payment systems like SWIFT and CHAPS Outlines the shift from focusing on physical security measures to technical network-protection measures Explores the relationship between banks and the UK Government as bank operations became dependent on computer and network technology This work will be of value to students and academic researchers in the history of computing, financial history, and the history of intelligence and security, as well as the general reader interested in contemporary intelligence, cyber security, and finance.

Download or read book Online Banking Security Measures and Data Protection written by Aljawarneh, Shadi A. and published by IGI Global. This book was released on 2016-09-23 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technological innovations in the banking sector have provided numerous benefits to customers and banks alike; however, the use of e-banking increases vulnerability to system attacks and threats, making effective security measures more vital than ever. Online Banking Security Measures and Data Protection is an authoritative reference source for the latest scholarly material on the challenges presented by the implementation of e-banking in contemporary financial systems. Presenting emerging techniques to secure these systems against potential threats and highlighting theoretical foundations and real-world case studies, this book is ideally designed for professionals, practitioners, upper-level students, and technology developers interested in the latest developments in e-banking security.

Download or read book Managing Information Assurance in Financial Services written by Rao, H.R. and published by IGI Global. This book was released on 2007-06-30 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book provides high-quality research papers and industrial practice articles about information security in the financial service industry. It provides insight into current information security measures, including: technology, processes, and compliance from some of the leading researchers and practitioners in the field"--Provided by publisher.

Download or read book Cyber Risk and Financial Stability written by Frank Adelmann and published by International Monetary Fund. This book was released on 2020-12-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Cybersecurity Risk Supervision written by Christopher Wilson and published by International Monetary Fund. This book was released on 2019-09-24 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights the emerging supervisory practices that contribute to effective cybersecurity risk supervision, with an emphasis on how these practices can be adopted by those agencies that are at an early stage of developing a supervisory approach to strengthen cyber resilience. Financial sector supervisory authorities the world over are working to establish and implement a framework for cyber risk supervision. Cyber risk often stems from malicious intent, and a successful cyber attack—unlike most other sources of risk—can shut down a supervised firm immediately and lead to systemwide disruptions and failures. The probability of attack has increased as financial systems have become more reliant on information and communication technologies and as threats have continued to evolve.

Download or read book Central Bank Risk Management Fintech and Cybersecurity written by Mr. Ashraf Khan and published by International Monetary Fund. This book was released on 2021-04-23 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on technical assistance to central banks by the IMF’s Monetary and Capital Markets Department and Information Technology Department, this paper examines fintech and the related area of cybersecurity from the perspective of central bank risk management. The paper draws on findings from the IMF Article IV Database, selected FSAP and country cases, and gives examples of central bank risks related to fintech and cybersecurity. The paper highlights that fintech- and cybersecurity-related risks for central banks should be addressed by operationalizing sound internal risk management by establishing and strengthening an integrated risk management approach throughout the organization, including a dedicated risk management unit, ongoing sensitizing and training of Board members and staff, clear reporting lines, assessing cyber resilience and security posture, and tying risk management into strategic planning.. Given the fast-evolving nature of such risks, central banks could make use of timely and regular inputs from external experts.

Download or read book Critical infrastructure protection efforts of the financial services sector to address cyber threats report to the Subcommittee on Domestic Monetary Policy Technology and Economic Growth Committee on Financial Services House of Representatives written by and published by DIANE Publishing. This book was released on with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Cybersecurity written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-05 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Depository institutions experienced cyber attacks in recent years that are estimated to have resulted in hundreds of millions of dollars in losses. Depository institution regulators (the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, and NCUA) oversee information security at these institutions and Treasury coordinates protection of the financial sector. The objectives of this report include examining (1) how regulators oversee institutions' efforts to mitigate cyber threats, and (2) sources of and efforts by agencies to share cyber threat information. GAO collected and analyzed cyber security studies from private-sector sources. GAO reviewed materials from selected IT examinations (based on regulator, institution size, and risk level). GAO also held three forums with more than 50 members of financial institution industry associations who provided opinions on cyber threat information sharing.