This study empirically investigates the performance of Elastic Machine Learning, an industrial, unsupervised anomaly detection tool, in the identification of fraudulent behavior in banking transactions. Using AI-generated datasets that were designed to simulate realistic banking environments,...

We propose a quantitative framework to track systemic risk arising from cyber vulnerabilities of the U.S. financial system. Synthesizing financial, economic, cyber, and network data that covers thousands of financial institutions and technological firms, we develop an index that tracks...

As Thailand's financial sector accelerates its digital transformation, cybersecurity has transitioned from a mere technical support function to a strategic imperative that governs operational risk and financial stability. This study empirically examines the efficacy of cyber risk controls and...

The paper synthesizes global experiences and key lessons in the regulation and supervision of cyber risk in the financial sector. It draws on the IMF’s financial stability surveillance and technical assistance work. It underscores the increasing frequency and complexity of cyber threats. These...

We examine how cybercrime impacts victims' risk-taking and returns. The results from our difference-in-differences analysis of a sample of victim and matched non-victim investors on the Ethereum blockchain are in line with prospect theory and suggests that victims increase their long-term total...

Digitalisation of health services brings many benefits to patients, including electronic health records, telemedicine, and AI-driven diagnostics. However, healthcare is one of the most targeted sectors by cyber and ransomware attacks. To better protect its healthcare systems and create a safer...

Digitalisation of health services brings many benefits to patients, including electronic health records, telemedicine, and AI-driven diagnostics. However, healthcare is one of the most targeted sectors by cyber and ransomware attacks. To better protect its healthcare systems and create a safer...

This study investigates the relationship between cyber risks and dividend policy, as well as how boards, as a governance mechanism, affect the dividend policy under cyber risk. This study collected firm-level financing, corporate governance, and control variables from the Bloomberg database...

Ransomware has become the most common cyber risk for businesses. The rise is not driven by attackers using innovative attacks, but instead by deteriorating negotiation outcomes. The average payment grew by almost 20,000% since 2018. However, it remains unclear why attackers can demand ever...

As governments across the world increasingly undergo digitalisation processes, ensuring cybersecurity of these provisions cannot be 100% guaranteed. How, then, can governments best respond to a cybersecurity crisis in order to bolster cybersecurity in the future? Even Estonia, one of the...

The digitisation of seaports has brought about a significant improvement in efficiency, productivity, and communication within the maritime industry. However, the increasing reliance on technology exposes seaports to cyber threats, constituting significant risk to the economy and national...

This article provides an overview of the current state-of-the-art in cyber risk and cyber risk management, focusing on the mathematical models that have been created to help with risk quantification and insurance pricing. We discuss the main ways that cyber risk is measured, starting with...

Although previous research on the predictors of cyber fraud victimization has provided evidence of the impact of routine activity and low self-control on the risk of cyber fraud victimization, little knowledge is available in Japan. In addition, to the best of our knowledge, no study has yet...

Health entities across Europe are increasingly reliant on digital solutions - from electronic health records and telemedicine to connected medical devices and AI-powered diagnostics. This digital transformation also brings greater exposure to cyber threats such as ransomware, phishing and the...

We live in an era where semiconductors underpin global technological infrastructures. However, the increasing complexity and cybersecurity vulnerabilities within semiconductor supply chains, exposes all technology-based industries to significant, cyber risks.This paper investigates how incumbent...

We demonstrate how computer-based simulations could support cyber stress testing exercises through a three-step framework. First, cyber-attack scenarios are designed to target the systemic nodes of a payment network at different times, disrupting a major bank, critical service provider,...

In this handbook, we define a cyber stress test as 'a targeted assessment of the resilience of individual organisations and their ability to withstand and recover from significant cybersecurity incidents, ensuring the provision of critical services, in different risk scenarios.' Stress tests...

Policy makers, risk managers and information security practitioners need up to date and accurate information on the current threat landscape, supported by situational awareness and threat analysis. The EU Agency for Cybersecurity (ENISA) Cyber Threat Landscape (CTL) reports have been published...

The NIS360 is a new ENISA product that assesses the maturity and criticality of sectors of high criticality under the NIS2 Directive, providing both a comparative overview and a more in-depth analysis of each sector. The NIS360 is designed to assist Member States and national authorities in...

As the incidences of traditional crime rates have begun to decline, there has been a surge and shift in the kinds of criminal activities perpetuated by individuals. The recent shift in criminal activities includes organized crime, white-collar crime, and cybercrime.The increased use and access...

Blockchain is an innovative solution for many supply chain (SC) issues. This study presents empirical and theoretical evidence to address the following research question: How can blockchain impact the information flow in SCs to enhance cyber resilience? The practice-based view provides...

State-sponsored cyber attacks are increasingly attracting attention in the literature, with many analysts interested in the firm-level economic implications of these attacks. Nevertheless, the bulk of these studies focus on firms directly targeted in the attacks. In this paper, I examine the...

This technical note and manual (TNM) draws lessons from cybersecurity surveys conducted by the Monetary and Capital Markets Department (MCM) to provide advice to central banks, supervisory authorities and policy makers seeking to strengthen cybersecurity of their financial sectors. The TNM...

In today's fast-paced digital landscape, the importance of human factors in cybersecurity has become increasingly evident yet is often overlooked. This research employs the Delphi method to achieve expert consensus on the managerial actions that enhance cybersecurity by leveraging human factors....

Cyber violence against women has been rising at alarming rates in recent decades. Such acts not only harm women as individuals but have severe detrimental effects on society and the economy at large. This Brief analyzes laws from 190 economies to assess the extent and coverage of current...