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Cybersecurity in Finance

Getting the Policy Mix Right

1. Characterisation of cyber-incidents; 2. Need for convergence in incident reporting schemes; 3. Optimising information sharing; 4. Need for benchmark statistics on cyber-trends; 5. Complementary policies to reinforce prevention; 6. Complementary policies to strengthen responses in case of cyberattacks.

1. Characterisation of cyber-incidents; 2.

Cybersecurity Risk Supervision

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.

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 ...

Cybersecurity and Data Protection in the Financial Sector

Cybersecurity and data protection in the financial sector : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... June 21, 2011.

Cybersecurity and data protection in the financial sector : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... June 21, 2011.

Strategies for e-Service, e-Governance, and Cybersecurity

Challenges and Solutions for Efficiency and Sustainability

In the world of digitization today, many services of government and industry are carried out in electronic mode in order to avoid the misuse of natural resources. The implementation of e-services also provides transparency and efficiency. However, these e-services are vulnerable to cyber threats and need special measures in place to provide safety and security as they are being used in the cyber space. This new volume provides an introduction to and overview of cybersecurity in e-services and e-governance systems. The volume presents and discusses the most recent innovations, trends, and concerns, as well as the practical challenges encountered and solutions adopted in the fields of security and e-services. The editors bring together leading academics, scientists, researchers, and research scholars to share their experiences and research results on many aspects of e-services, e-governance, and cybersecurity. The chapters cover diverse topics, such as using digital education to curb gender violence, cybersecurity threats and technology in the banking industry, e-governance in the healthcare sector, cybersecurity in the natural gas and oil industry, developing information communication systems, and more. The chapters also include the uses and selection of encryption technology and software.

Banking industry in India is no exception to this trend. In recent years, the industry has gone through drastic changes in banking norms and since the advent of the private players in the industry, there has been intense competition.

Biometric-Based Physical and Cybersecurity Systems

This book presents the latest developments in biometrics technologies and reports on new approaches, methods, findings, and technologies developed or being developed by the research community and the industry. The book focuses on introducing fundamental principles and concepts of key enabling technologies for biometric systems applied for both physical and cyber security. The authors disseminate recent research and developing efforts in this area, investigate related trends and challenges, and present case studies and examples such as fingerprint, face, iris, retina, keystroke dynamics, and voice applications . The authors also investigate the advances and future outcomes in research and development in biometric security systems. The book is applicable to students, instructors, researchers, industry practitioners, and related government agencies staff. Each chapter is accompanied by a set of PowerPoint slides for use by instructors.

Banking. Sector. This case study includes identification and discussion on various issues and factors related to implementing biometrics in banking sector, specifically for the user authentication and control [38].

Advances in Cybersecurity Management

This book concentrates on a wide range of advances related to IT cybersecurity management. The topics covered in this book include, among others, management techniques in security, IT risk management, the impact of technologies and techniques on security management, regulatory techniques and issues, surveillance technologies, security policies, security for protocol management, location management, GOS management, resource management, channel management, and mobility management. The authors also discuss digital contents copyright protection, system security management, network security management, security management in network equipment, storage area networks (SAN) management, information security management, government security policy, web penetration testing, security operations, and vulnerabilities management. The authors introduce the concepts, techniques, methods, approaches and trends needed by cybersecurity management specialists and educators for keeping current their cybersecurity management knowledge. Further, they provide a glimpse of future directions where cybersecurity management techniques, policies, applications, and theories are headed. The book is a rich collection of carefully selected and reviewed manuscripts written by diverse cybersecurity management experts in the listed fields and edited by prominent cybersecurity management researchers and specialists.

9.6.1.3 Financial The financial sector has been implementing technologies to serve customers online or via mobile banking well before the onset of the pandemic. Foot traffic in bank branches was in decline before the pandemic, ...

Central Bank Risk Management, Fintech, and Cybersecurity

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.

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 ...