Countering Cyber Threats to Financial Institutions
A Private and Public Partnership Approach to Critical Infrastructure Protection
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.
Foundations, Research, and Practice
The success of the evidence-based approach in improving the performances of 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, reviews its relevance in the context of existing security tools and policies, and the authors 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 processes 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 in protecting 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 backgrounds, and personal experiences when adopting cybersecurity tools and policies. This approach is also a model in which policy decisions are made based on scientific research findings.