QBER: Quantifying Cyber Risks for Strategic Decisions
Fuente:
arXiv
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| Auteurs principaux: | , , |
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| Format: | Preprint |
| Publié: |
2024
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| _version_ | 1866911868582363136 |
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| author | Franco, Muriel Figueredo Mullick, Aiatur Rahaman Jha, Santosh |
| author_facet | Franco, Muriel Figueredo Mullick, Aiatur Rahaman Jha, Santosh |
| contents | Quantifying cyber risks is essential for organizations to grasp their vulnerability to threats and make informed decisions. However, current approaches still need to work on blending economic viewpoints to provide insightful analysis. To bridge this gap, we introduce QBER approach to offer decision-makers measurable risk metrics. The QBER evaluates losses from cyberattacks, performs detailed risk analyses based on existing cybersecurity measures, and provides thorough cost assessments. Our contributions involve outlining cyberattack probabilities and risks, identifying Technical, Economic, and Legal (TEL) impacts, creating a model to gauge impacts, suggesting risk mitigation strategies, and examining trends and challenges in implementing widespread Cyber Risk Quantification (CRQ). The QBER approach serves as a guided approach for organizations to assess risks and strategically invest in cybersecurity. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2405_03513 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | QBER: Quantifying Cyber Risks for Strategic Decisions Franco, Muriel Figueredo Mullick, Aiatur Rahaman Jha, Santosh Cryptography and Security Computational Engineering, Finance, and Science Quantifying cyber risks is essential for organizations to grasp their vulnerability to threats and make informed decisions. However, current approaches still need to work on blending economic viewpoints to provide insightful analysis. To bridge this gap, we introduce QBER approach to offer decision-makers measurable risk metrics. The QBER evaluates losses from cyberattacks, performs detailed risk analyses based on existing cybersecurity measures, and provides thorough cost assessments. Our contributions involve outlining cyberattack probabilities and risks, identifying Technical, Economic, and Legal (TEL) impacts, creating a model to gauge impacts, suggesting risk mitigation strategies, and examining trends and challenges in implementing widespread Cyber Risk Quantification (CRQ). The QBER approach serves as a guided approach for organizations to assess risks and strategically invest in cybersecurity. |
| title | QBER: Quantifying Cyber Risks for Strategic Decisions |
| topic | Cryptography and Security Computational Engineering, Finance, and Science |
| url | https://arxiv.org/abs/2405.03513 |