Tags: Keywords: Cyberincidents, Operational risk, Basel Committee, SEC Edgar, Advisen data, Cybersecurity risk measure, National Cyber Security Index, Banking industry, Technology advancement, Cyber risk insurance.
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Cyberattacks have surged rapidly during the previous five years, and cybersecurity expertsanticipate one attack every 11 seconds by 2023.
Cyberattacks and data breaches have risen from being an IT unit concern to being a key risk management issue for all financial institutions. The importance of safeguarding information systems to maintain commercial and financial activity in a firm has grown in the wake of the COVID-19 pandemic. By analyzing the 10-K filings of the US-listed firms and statistics on cybercrimes, the objective of this study is to propose a novel cyber risk measure for publicly traded US firms.
Avisha Gupta, Dr.Chitra Saruparia, Dr. Arun Kumar Giri (2025) "Economic Analysis of Cyber Risk for Financial Institutions ", GNLU Journal of Law And Economics : Volume VI 2023, Issue II
Available at:
https://gnlu.ac.in/GJLE/Publications/Economic Analysis of Cyber Risk for Financial Institutions