Title: Implication of Cyber Warfare on the Financial Sector. An Exploratory Study

Issue Number: Vol. 7, No. 1
Year of Publication: March - 2018
Page Numbers: 31-37
Authors: Sohail Razi Khan
Journal Name: International Journal of Cyber-Security and Digital Forensics (IJCSDF)
- Hong Kong
DOI:  http://dx.doi.org/10.17781/P002319

Abstract:


The cyber domain is constantly evolving, providing both new opportunities and challenges for financial services institutions. The implication of cyber warfare on the financial sector is serious where state and nonstate actors are involved to settle geo-political tensions. To improve cybersecurity, financial services institutions, like many other organizations, must elevate the topic and address threats holistically to the highest levels of the organization in a manner that they understand. In this effort, the need is to understand threats. Just as the likelihood and impact of cybercrimes varies, so should the responses to them. This paper examines the implication on the financial institution due to cyber warfare. It provides how state non-state actors are involved to attack the financial institutions across the world. The paper provides an exploratory study by involving the financial institutions to investigate the challenges of cyber warfare and its implications on the financial sector.