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Cybersecurity Risk Supervision

Author

Listed:
  • Tamas Gaidosch
  • Frank Adelmann
  • Anastasiia Morozova
  • Christopher Wilson

Abstract

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.

Suggested Citation

  • Tamas Gaidosch & Frank Adelmann & Anastasiia Morozova & Christopher Wilson, 2019. "Cybersecurity Risk Supervision," IMF Departmental Papers / Policy Papers 2019/014, International Monetary Fund.
    • Handle: RePEc:imf:imfdps:2019/014
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=46238
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    Cited by:

    1. Claudiu Ioan Negrea, 2022. "Can Cyber Risk Affect Financial Stability?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 368-376, September.

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