Cybersecurity Risk Supervision

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Author :
Publisher : International Monetary Fund
ISBN 13 : 151351525X
Total Pages : 55 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Cybersecurity Risk Supervision by : Christopher Wilson

Download or read book Cybersecurity Risk Supervision written by Christopher Wilson and published by International Monetary Fund. This book was released on 2019-09-24 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

South Africa: Financial Sector Assessment Program-Technical Note on Cybersecurity Risk Supervision and Oversight

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis South Africa: Financial Sector Assessment Program-Technical Note on Cybersecurity Risk Supervision and Oversight by : International Monetary

Download or read book South Africa: Financial Sector Assessment Program-Technical Note on Cybersecurity Risk Supervision and Oversight written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-17 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cybersecurity risk continues to grow both in complexity and severity and is a function of an increasingly open and interconnected cyber and financial ecosystem. The South African financial system has a long history of incorporating technology and as for many financial systems across the globe, digitalization has become a strategic priority. For risk management to keep pace with the dynamic nature of cyber threats and threat agents, systemically important financial institutions (SIFIs) have made substantial investments in cyber resilience programs (e.g., establishing cyber strategies, frameworks, and governance structures). Consistent with many jurisdictions, and partly a result of widespread remote working arrangements implemented in response to the global pandemic, cybersecurity threats to financial stability increased. However, high standards of risk management meant threats did not materialize into significant losses and/or disruptions.

Cyber Risk, Market Failures, and Financial Stability

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Author :
Publisher : International Monetary Fund
ISBN 13 : 148431378X
Total Pages : 36 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Cyber Risk, Market Failures, and Financial Stability by : Emanuel Kopp

Download or read book Cyber Risk, Market Failures, and Financial Stability written by Emanuel Kopp and published by International Monetary Fund. This book was released on 2017-08-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1589063953
Total Pages : 35 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by : El Bachir Boukherouaa

Download or read book Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Cyber Risk and Financial Stability

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513512293
Total Pages : 32 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Cyber Risk and Financial Stability by : Frank Adelmann

Download or read book Cyber Risk and Financial Stability written by Frank Adelmann and published by International Monetary Fund. This book was released on 2020-12-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ability of attackers to undermine, disrupt and disable information and communication technology systems used by financial institutions is a threat to financial stability and one that requires additional attention.

Sweden

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Sweden by : International Monetary

Download or read book Sweden written by International Monetary and published by International Monetary Fund. This book was released on 2023-04-05 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sweden: Financial Sector Assessment Program-Technical Note on Cybersecurity Risk Supervision and Oversight

Cyber Risk, Market Failures, and Financial Stability

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484314131
Total Pages : 36 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Cyber Risk, Market Failures, and Financial Stability by : Emanuel Kopp

Download or read book Cyber Risk, Market Failures, and Financial Stability written by Emanuel Kopp and published by International Monetary Fund. This book was released on 2017-08-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Cyber Risk Surveillance: A Case Study of Singapore

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513526316
Total Pages : 31 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Cyber Risk Surveillance: A Case Study of Singapore by : Joseph Goh

Download or read book Cyber Risk Surveillance: A Case Study of Singapore written by Joseph Goh and published by International Monetary Fund. This book was released on 2020-02-10 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It is therefore important to integrate it into financial sector surveillance. This paper offers a range of analytical approaches to assess and monitor cyber risk to the financial sector, including various approaches to stress testing. The paper illustrates these techniques by applying them to Singapore. As an advanced economy with a complex financial system and rapid adoption of fintech, Singapore serves as a good case study. We place our results in the context of recent cybersecurity developments in the public and private sectors, which can be a reference for surveillance work.

OECD SME and Entrepreneurship Outlook 2019

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Author :
Publisher : OECD Publishing
ISBN 13 : 926435882X
Total Pages : 396 pages
Book Rating : 4.2/5 (643 download)

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Book Synopsis OECD SME and Entrepreneurship Outlook 2019 by : OECD

Download or read book OECD SME and Entrepreneurship Outlook 2019 written by OECD and published by OECD Publishing. This book was released on 2019-05-20 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new OECD SME and Entrepreneurship Outlook presents the latest trends in performance of small and medium-sized enterprises (SMEs) and provides a comprehensive overview of business conditions and policy frameworks for SMEs and entrepreneurs. This year’s edition provides comparative evidence on business dynamism, productivity growth, wage gaps and export trends by firm size across OECD countries and emerging economies.

Chile

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Chile by : International Monetary Fund. Western Hemisphere Dept.

Download or read book Chile written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2024-02-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues

Norway

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 69 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Norway by : International Monetary Fund. European Dept.

Download or read book Norway written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-07-26 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: After strong performance in 2022, some deceleration in growth is expected, given geopolitical headwinds and tightening of financial conditions, including globally. Risks are balanced, and there is ample policy space in the short term to accommodate downside surprises. However, leveraging its strong fundamentals, Norway is encouraged to focus on the longer-term structural agenda, given soon-to-be-pressing issues with demographics.

Spain

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Spain by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Spain written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2024-08 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spain: Financial Sector Assessment Program-Technical Note on Cyber Risk and Financial Stability

Resilience of Cyber-Physical Systems

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Author :
Publisher : Springer
ISBN 13 : 3319955977
Total Pages : 237 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Resilience of Cyber-Physical Systems by : Francesco Flammini

Download or read book Resilience of Cyber-Physical Systems written by Francesco Flammini and published by Springer. This book was released on 2019-01-25 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the latest approaches to holistic Cyber-Physical System (CPS) resilience in real-world industrial applications. Ensuring the resilience of CPSs requires cross-discipline analysis and involves many challenges and open issues, including how to address evolving cyber-security threats. The book describes emerging paradigms and techniques from two main viewpoints: CPSs’ exposure to new threats, and CPSs’ potential to counteract them. Further, the chapters address topics ranging from risk modeling to threat management and mitigation. The book offers a clearly structured, highly accessible resource for a diverse readership, including graduate students, researchers and industry practitioners who are interested in evaluating and ensuring the resilience of CPSs in both the development and assessment stages.

Trinidad and Tobago

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Trinidad and Tobago by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Trinidad and Tobago written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2023-05-08 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the request of the CBTT, a TA mission on strengthening cybersecurity in financial institutions was delivered during the period October 31–November 4, 2022. The Governor requested the TA during the 2022 Spring Meetings and the deliverables for the mission and the milestones were identified by having a dialogue with the authority. The mission had two objectives: (i) to strengthen the cybersecurity of the financial institutions under the supervisory ambit of CBTT and (ii) to improve the cybersecurity stance of the CBTT. For the project for strengthening cybersecurity of the Central Bank an internal project team has been constituted. For strengthening cybersecurity of financial institutions, the CBTT has established a working group comprising all the financial regulators (namely, the CBTT, Trinidad and Tobago Securities and Exchange Commission (TTSEC), the Financial Intelligence Unit of Trinidad and Tobago (FIUTT), and the Office of the Commission of Cooperative Development (CCD) to draft a cybersecurity guideline for financial institutions and a supervisory manual.

Enhancing the Role of Insurance in Cyber Risk Management

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Author :
Publisher : Organization for Economic Co-Operation & Development
ISBN 13 : 9789264282131
Total Pages : 0 pages
Book Rating : 4.2/5 (821 download)

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Book Synopsis Enhancing the Role of Insurance in Cyber Risk Management by : Organization for Economic Cooperation and Development

Download or read book Enhancing the Role of Insurance in Cyber Risk Management written by Organization for Economic Cooperation and Development and published by Organization for Economic Co-Operation & Development. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The digital transformation of economic activities is creating significant opportunities for innovation, convenience and efficiency. However, recent major incidents have highlighted the digital security and privacy protection risks that come with an increased reliance on digital technologies. While not a substitute for investing in cyber security and risk management, insurance coverage for cyber risk can make a significant contribution to the management of cyber risk by promoting awareness about exposure to cyber losses, sharing expertise on risk management, encouraging investment in risk reduction and facilitating the response to cyber incidents. This report provides an overview of the financial impact of cyber incidents, the coverage of cyber risk available in the insurance market, the challenges to market development and initiatives to address those challenges. It includes a number of policy recommendations which support the development of the cyber insurance market and contribute to improving the management of cyber risk.

Norway

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Norway by : International Monetary Fund. European Dept.

Download or read book Norway written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2024-09-18 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Norway’s economy continues to perform strongly, reflecting strong policy frameworks and policy implementation, solid fiscal and banking system buffers, and a comprehensive social safety net. A few important challenges that need to be addressed include boosting labor supply, containing public expenditure pressures, and raising productivity.

Global Financial Stability Report, April 2024

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Global Financial Stability Report, April 2024 by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Global Financial Stability Report, April 2024 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2024-04-16 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 documents that near-term global financial stability risks have receded amid expectations that global disinflation is entering its last mile. However, along it, there are several salient risks and a build-up of medium-term vulnerabilities. Chapter 2 assesses vulnerabilities and potential risks to financial stability in corporate private credit, a rapidly growing asset class—traditionally focused on providing loans to midsize firms outside the realms of either commercial banks or public debt markets—that now rivals other major credit markets in size. Chapter 3 shows that while cyber incidents have thus far not been systemic, the probability of severe cyber incidents has increased, posing an acute threat to macrofinancial stability.