Cyber Risk

Abstract

The dependence on cyberspace has considerably increased over time, as such, people look at risk associated with cyber technology. This chapter focuses on the cyber risk issue. The authors aim to describe the global state of the art and point out the potential negative consequences of this type of systemic risk. Cyber risk increasingly affects both public and private institutions. Some of the risks that entities face are the following: computer security breaches, cyber theft, cyber terrorism, cyber espionage. Developed nations but also emerging markets suffer from cyber risk. It is therefore important to examine the different security regulation implemented across different markets. Moreover, cyber risk is a concern for all economic sectors. In particular, it is a crucial issue in banking sector because of the negative effects of cyber attacks, among others, the financial losses and the reputational risk. However, the awareness is increasing and cyber insurance is growing.

Cybercrime in Online Dating Site: Pornography Business in the Virtual World

“…Cyber risk itself means the risk of financial loss, disruption or damage to the reputation of an organization or individual caused by the failure of its information technology system [4]. One of the cyber risks we are facing right now is the existence of cybercrime [5].…”