Background: Blockchain is a digitally managed, distributed, and decentralized ledger used to record transactions in an immutable format. Its characteristics in providing trust, transparency, and traceability make it attractive for applications where transactions are involved. Originally intended...

Cyber attacks can impair banks operations and precipitate bank runs. When digital infrastructure is shared, banks defend themselves by investing in cybersecurity but can free-ride on the security measures of others. Ex ante free-riding by banks interacts with the ex post coordination frictions...

Digital exchanges, which convert funds between national currencies and cryptocurrencies, are often the victims of cybersecurity attacks. We investigate the impact of such cybersecurity breaches on bitcoin returns. Using several alternative specifications we test the hypothesis that bitcoin...

Today’s technology-driven human-society country-wise is important for economic-development where Bangladeshi-society is no exception. Tech-users here compete for comparative time-saving-options. It has resulted comparatively huge data-usage and high-number of users & devices. It has attracted...

Financial services are delivered almost exclusively online and cyber attackers have taken notice. We develop a principal-agent model with fee-paying clients who delegate security decisions to financial platforms that are subject to cyber attacks that steal data or assets. We derive testable...

This paper is the first systematic examination of the effects of data localization laws on cybersecurity. This paper focuses on the effects of “hard” data localization, where transfer of data is prohibited to other countries. Other “softer” versions of data localization also exist, such...

The rapid development of the process of informatization of modern society has necessitated cybersecurity in all spheres of human activity, as the implementation of deliberate or unintentional influences on the information sphere by both external and internal sources can damage security and lead...

Financial technology innovations (Fintech) are changing the provision of traditional financial services. Although they bring with them various benefits and opportunities, they also have weaknesses and pose potential threats to financial systems. The paper examines the latest developments in the...

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...

We conduct an interview-based field study to investigate how directors provide cybersecurity oversight and the role of expertise in determining its effectiveness. Our interviews suggest that directors’ cybersecurity expertise is an important determinant of oversight effectiveness, primarily...

The continued cost decline of computer processing capacity along with rapid growth in microprocessor speed, results in today’s increasing rate of technological change and is of historical import. The daily life of billions of individuals worldwide has been forever changed by technological...

Purpose of the article: Cyber security has become a key factor in determining the success or failure of companies that rely on information systems. However, this entails considerable investment. Typical investments in information technology aim to create value, while investments in cyber...

We analyze how systemic cyber risk in the wholesale payments network relates to adverse financial conditions. We show that at the onset of the COVID-19 pandemic, payment activity increased, became more concentrated, and showed intraday liquidity stress. Cyber vulnerability was elevated in late...

The increasing rate at which IoT technologies are being developed has enabled smarter and innovative solutions in the sectors of health, energy, transportation, etc. Unfortunately, some inherent characteristics of these technologies are compromised to attack. Naturally, risk analysis emerges, as...

This paper explores how issues and malfeasances relating to cybersecurity and cyber fraud differ based on gender, primarily focusing on women in relation to use of mobile-phone centric digital financial services (DFS) in developing countries in Africa and South Asia.We find that women within the...

Constant cyber threats result in: intellectual property loss; data disruption; ransomware attacks; theft of valuable company intellectual property and sensitive customer information. During March 2022, The Securities and Exchange Commission (SEC) issued a proposed rule addressing Cybersecurity...

A working knowledge of cybersecurity by high-level stakeholders is necessary for the effective management of complex digital infrastructures. High-level stakeholders within state government must strengthen cybersecurity platforms and prepare for the consequences of inevitable failures. This...

This study investigates whether auditors’ experiences with their clients’ cybersecurity incidents affect their subsequent audit efforts with non-breached clients and help these clients reduce cybersecurity risks. Using data from the Audit Analytics Cybersecurity database and the Privacy...

Cyber attacks can impair banks operations and precipitate bank runs. When digital infrastructure is shared, banks defend themselves by investing in cybersecurity but can free-ride on the security measures of others. Ex ante free-riding by banks interacts with the ex post coordination frictions...

Motivated by the SEC’s new proposal to require firms to publicly disclose their cybersecurity incidents within four days of discovery, we study whether there are trade-offs with mandating a disclosure deadline for cybersecurity incidents. In the U.S., state-level data breach disclosure laws...

Im Januar 2022 werden die UN-Mitgliedstaaten Verhandlungen über ein globales Abkommen zur Bekämpfung der Cyberkriminalität aufnehmen. Mehr internationale Zusammenarbeit in diesem Bereich ist dringend geboten. Doch es gibt auch Risiken. So könnten vage Verpflichtungen, etwa zur Überwachung...

The aim of this paper is to deepen the application of value at risk in the cyber domain, with particular attention to its potential role in security investment valuation. Cyber risk is a fundamental component of the overall risk faced by any organization. In order to plan the size of security...

Cyber insurance ratemaking (CIRM) is a procedure used to set rates (or prices) for cyber insurance products provided by insurance companies. Rate estimation is a critical issue for cyber insurance products. This problem arises because of the unavailability of actuarial data and the uncertainty...

Investments in security and cyber-insurance are two cyber-risk management strategies that can be employed together to optimize the overall security expense. In this paper, we provide a closed form for the optimal investment under a full set of insurance liability scenarios (full liability,...

Shipping is the sector of the economy via which approximately 85% of all world trade is transported and which is technologically developing with enormous leaps. Its digital transformation has highlighted new opportunities, but at the same time new threats. Due to the great demand from the...

Specialty literature and solutions in the market have been focusing in the last decade on collecting and aggregating significant amounts of data about transactions (and user behavior) and on refining the algorithms used to identify fraud. At the same time, legislation in the European Union has...

This study discusses the use of digital technology platforms (DTPs) in the context of cyber-security in the industrial sector, with a focus on digital industry (industrial) platforms (DIPs). A definition of DTPs is presented, including the author's interpretation, as well as the scope of DTP...

Most port operators have increasingly integrated cybertechnology into port activities to increase their competitiveness; unfortunately, this digitalization becomes the major vulnerability for the emerging cyberthreat. To help port policymakers develop cybersecurity measures, this study...