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.

The prevalence of cyber-dependent crimes and illegal activities that can only be performed using a computer, computer networks, or other forms of information communication technology has significantly increased during the last two decades in the USA and worldwide. As a result, cybersecurity scholars and practitioners have developed various tools and policies to reduce individuals' and organizations' risk of experiencing cyber-dependent crimes. However, although cybersecurity research and tools production efforts have increased substantially, very little attention has been devoted to identifying potential comprehensive interventions that consider both human and technical aspects of the local ecology within which these crimes emerge and persist. Moreover, it appears that rigorous scientific assessments of these technologies and policies "in the wild" have been dismissed in the process of encouraging innovation and marketing. Consequently, governmental organizations, public, and private companies allocate a considerable portion of their operations budgets to protecting their computer and internet infrastructures without understanding the effectiveness of various tools and policies in reducing the myriad of risks they face. Unfortunately, this practice may complicate organizational workflows and increase costs for government entities, businesses, and consumers. The success of the evidence-based approach in improving performance in a wide range of professions (for example, medicine, policing, and education) leads us to believe that an evidence-based cybersecurity approach is critical for improving cybersecurity efforts. This book seeks to explain the foundation of the evidence-based cybersecurity approach, review its relevance in the context of existing security tools and policies, and provide concrete examples of how adopting this approach could improve cybersecurity operations and guide policymakers' decision-making process. The evidence-based cybersecurity approach explained aims to support security professionals', policymakers', and individual computer users' decision-making regarding the deployment of security policies and tools by calling for rigorous scientific investigations of the effectiveness of these policies and mechanisms in achieving their goals to protect critical assets. This book illustrates how this approach provides an ideal framework for conceptualizing an interdisciplinary problem like cybersecurity because it stresses moving beyond decision-makers' political, financial, social, and personal experience backgrounds when adopting cybersecurity tools and policies. This approach is also a model in which policy decisions are made based on scientific research findings.

Ransomware is a type of malicious software that prevents victims from accessing their computers and the information they have stored. Typically, victims are required to pay a ransom, usually using cryptocurrency, such as Bitcoin, to regain access. Ransomware attacks pose a significant threat to national security, and there has been a substantial increase in such attacks in the post-Covid era. In response to these threats, large enterprises have begun implementing better cybersecurity practices, such as deploying data loss prevention mechanisms and improving backup strategies. However, cybercriminals have developed a hybrid variant called Ransomware 2.0. In this variation, sensitive data is stolen before being encrypted, allowing cybercriminals to publicly release the information if the ransom is not paid. Cybercriminals also take advantage of cryptocurrency’s anonymity and untraceability. Ransomware 3.0 is an emerging threat in which cybercriminals target critical infrastructures and tamper with the data stored on computing devices. Unlike in traditional ransomware attacks, cybercriminals are more interested in the actual data on the victims’ devices, particularly from critical enterprises such as government, healthcare, education, defense, and utility providers. State-based cyber actors are more interested in disrupting critical infrastructures rather than seeking financial benefits via cryptocurrency. Additionally, these sophisticated cyber actors are also interested in obtaining trade secrets and gathering confidential information. It is worth noting that the misinformation caused by ransomware attacks can severely impact critical infrastructures and can serve as a primary weapon in information warfare in today’s age. In recent events, Russia’s invasion of Ukraine led to several countries retaliating against Russia. A ransomware group threatened cyber-attacks on the critical infrastructure of these countries. Experts warned that this could be the most widespread ransomware gang globally and is linked to a trend of Russian hackers supporting the Kremlin’s ideology. Ensuring cyber safety from ransomware attacks has become a national security priority for many nations across the world. The evolving variants of ransomware attacks present a wider and more challenging threat landscape, highlighting the need for collaborative work throughout the entire cyber ecosystem value chain. In response to this evolving threat, a book addressing the challenges associated with ransomware is very timely. This book aims to provide a comprehensive overview of the evolution, trends, techniques, impact on critical infrastructures and national security, countermeasures, and open research directions in this area. It will serve as a valuable source of knowledge on the topic.

Influenced by technological innovation, banks and their businesses are changing dramatically. This book explores the transformation and prospects of financial market institutions (banks, insurance companies, pension funds and microfinance organizations) in the context of the development of financial innovation, financial engineering and financial technologies, taking into account risks and new opportunities for development. It presents new approaches to the sustainable development of financial and credit institutions, taking into account the risk management and crisis management of their activities in the macro and microeconomic environment. Contributors from Russia, Kazakhstan, Azerbaijan, Mongolia, Ireland and Italy present their expert opinions on the practice of financial intermediaries in the conditions of economic transformation under the influence of the 4th Industrial Revolution and the Covid-19 pandemic. This book includes some of the key debates in this area including the genesis of financial markets in the paradigm of economic digitalization, the evolution of financial intermediaries from the classical model to the ecosystem, and the regulation of neo-banks. The book will be of interest to academics and practitioners in various spheres of theoretical and empirical knowledge, including economics, finance and banking, who are interested in investigation of the complex of fundamental (international and domestic) trends in the development of financial intermediation in the globalized financial markets.

"This book reviews problems, issues, and presentations of the newest research in the field of cyberwarfare and cyberterrorism. While enormous efficiencies have been gained as a result of computers and telecommunications technologies, use of these systems and networks translates into a major concentration of information resources, createing a vulnerability to a host of attacks and exploitations"--Provided by publisher.

Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk.

An essential resource to navigate a fast-changing and challenging world, this book presents core concepts and practical insights for enterprise risk management, business continuity management, and organizational resilience. Business continuity management is a critical aspect that investors and company directors evaluate in terms of an organizations’ sustainability and future value propositions in the face of supply chain disruptions, threats of economic recession, climate change, and the COVID-19 pandemic. This guide demonstrates a simple and systematic way to ensure that businesses are prepared for any crisis or emergency, including steps to meet the specific requirements prescribed in the international Business Continuity Standard ISO 22201, with a particular focus on the oil and gas sector. The seasoned author team brings their experience to bear on critical issues such as: Where managers lose focus on the need for business continuity – and how to regain it How to select and implement a business continuity management tool How to plan for the "macro scenario" that combines supply chain management, risk management, business continuity, and crisis management How to best utilize "peace time" to explore business continuity plans and strategies Why organizations should invest in business continuity even when the “going is tough in revenue and sales” This guide to understanding the role of business continuity and management as an organizational strategy will earn its place on the desks of senior leaders, health and safety directors, consultants, corporate trainers, and business continuity and risk management professionals.

Countering Terrorist and Criminal Financing provides an up-to-date overview and critical analysis of terrorism financing, focusing on tactics and practical measures directed at preventing money laundering and countering the flow of terrorism funding. In doing so, the book details some of the major doctrines, outlining policies of states and key regional and global partnerships in Europe, Asia, North America, South America, the Middle East, and Africa. Chapters bring together a diverse range of expert scholars and practitioners who specialise in theoretical principles, utilising empirical research and an analysis of the cross-national networks and cross-group collaborations that underpin the illicit activities that fund such groups. The book serves as the most current and comprehensive resource in the area of countering the financing of terrorism and organised crime—incorporating regional and group-specific approaches, challenges, and consequences. This focus encompasses legal measures, social policies, and military operations and security force responses by states and non-state actors to assemble the most up-to-date counter-terrorist financing information into a single volume.

This volume shows us that in order to deal with today’s Fourth Generation asymmetric warfare by terrorist groups using conventional arms and weapons of mass destruction, we need a new ‘global networked’ approach. The contributors examine the various attempts that have been made to counter the latest wave of terrorism, including the US strikes against Afghanistan and Iraq, President George W. Bush's declaration of a ‘war against terrorism’, the creation of the US Department of Homeland Security, and the 9/11 Commission. Drawing from our experience with ‘Terrorism Early Warning’ and the co-production of counter-terrorism intelligence, this book explains the need for such a network and shows how it could be formed. It compiles the opinions of experts from clinical medicine, public policy, law enforcement and the military. These expert contributors identify the nature of a global counter-terrorism network, show how it could be created, and provide clear guidelines for gauging its future effectiveness. This book will be of great interest to all students of terrorism studies, US national security, international relations, and political science in general.