Against a backdrop of annual data breaches compromising approximately one billion global records and an average data breach cost of nearly six billion dollars, the absence of clear US federal strategy for data breach notification and security requirements threatens both consumer privacy and...

To avert the impending global Cyber-Finance Insurance Crisis based upon large-scale commercial reliance upon quantitative models with inherent model risks, tail risks, and systemic risks in current form, this post-doctoral thesis makes the following key contributions: Develops the first known...

Cyber actors are operating under a shared services model giving them access to infrastructure, tools, targets and the ability to monetize their exploits. As a result, organizations across industries must enhance communication channels to share threat information in order to preempt cyber fraud...

This report presents a new Cyber Threat Taxonomy, Cyber Attack Taxonomy and Knowledge-based Cyber Resilience Framework. The research shows that despite high-profile cases in the media and the push from government agencies and industry groups, the importance of understanding cyber threats and the...

Protecting financial networks not only requires financial institutions to improve the security of their own systems, but to change the security balance of the entire internet environment. Cyber threats to financial institutions increasingly come from insecure low-cost mobile and IoT devices...

This paper examines the impact of cybercrime and hacking events on equity market volatility across publicly traded corporations. The volatility influence of these cybercrime events is shown to be dependent on the number of clients exposed across all sectors and the type of the cyber security...

By now, almost every business has an internet presence, and is likely engaged in e-commerce. What are the major risks perceived by those engaged in e-commerce and electronic payment systems? What potential risks, if they become reality, may cause substantial increases in operating costs or...

With the progressive digitisation and use, in particular, of the internet of things and artificial intelligence by industries, commerce, financial services, science and education, the public administration, health services as well as individuals, our society and daily life gets more and more...

This paper presents mathematical models for cyber breach probability as function of security spending in protecting a firm's ICT systems. We derive optimal level of security investment as percentage of value-at-risk. We show that the upper bound of optimal investment can be 1/e, 1/√2π or...