NetWare 2018
September 16 - 20, 2018 - Venice, Italy

  • SENSORCOMM 2018, The Twelfth International Conference on Sensor Technologies and Applications
  • SENSORDEVICES 2018, The Ninth International Conference on Sensor Device Technologies and Applications
  • SECURWARE 2018, The Twelfth International Conference on Emerging Security Information, Systems and Technologies
  • AFIN 2018, The Tenth International Conference on Advances in Future Internet
  • CENICS 2018, The Eleventh International Conference on Advances in Circuits, Electronics and Micro-electronics
  • ICQNM 2018, The Twelfth International Conference on Quantum, Nano/Bio, and Micro Technologies
  • FASSI 2018, The Fourth International Conference on Fundamentals and Advances in Software Systems Integration
  • GREEN 2018, The Third International Conference on Green Communications, Computing and Technologies

SoftNet 2018
October 14 - 18, 2018 - Nice, France

  • ICSEA 2018, The Thirteenth International Conference on Software Engineering Advances
  • ICSNC 2018, The Thirteenth International Conference on Systems and Networks Communications
  • CENTRIC 2018, The Eleventh International Conference on Advances in Human-oriented and Personalized Mechanisms, Technologies, and Services
  • VALID 2018, The Tenth International Conference on Advances in System Testing and Validation Lifecycle
  • SIMUL 2018, The Tenth International Conference on Advances in System Simulation
  • SOTICS 2018,The Eighth International Conference on Social Media Technologies, Communication, and Informatics
  • INNOV 2018, The Seventh International Conference on Communications, Computation, Networks and Technologies
  • HEALTHINFO 2018, The Third International Conference on Informatics and Assistive Technologies for Health-Care, Medical Support and Wellbeing

NexTech 2018
November 18 - 22, 2018 - Athens, Greece

  • UBICOMM 2018, The Twelfth International Conference on Mobile Ubiquitous Computing, Systems, Services and Technologies
  • ADVCOMP 2018, The Twelfth International Conference on Advanced Engineering Computing and Applications in Sciences
  • SEMAPRO 2018, The Twelfth International Conference on Advances in Semantic Processing
  • AMBIENT 2018, The Eighth International Conference on Ambient Computing, Applications, Services and Technologies
  • EMERGING 2018, The Tenth International Conference on Emerging Networks and Systems Intelligence
  • DATA ANALYTICS 2018, The Seventh International Conference on Data Analytics
  • GLOBAL HEALTH 2018, The Seventh International Conference on Global Health Challenges
  • CYBER 2018, The Third International Conference on Cyber-Technologies and Cyber-Systems

DigitalWorld 2019
February 24 - 28, 2019 - Athens, Greece

  • ICDS 2019, The Thirteenth International Conference on Digital Society and eGovernments
  • ACHI 2019, The Twelfth International Conference on Advances in Computer-Human Interactions
  • GEOProcessing 2019, The Eleventh International Conference on Advanced Geographic Information Systems, Applications, and Services
  • eTELEMED 2019, The Eleventh International Conference on eHealth, Telemedicine, and Social Medicine
  • eLmL 2019, The Eleventh International Conference on Mobile, Hybrid, and On-line Learning
  • eKNOW 2019, The Eleventh International Conference on Information, Process, and Knowledge Management
  • ALLSENSORS 2019, The Fourth International Conference on Advances in Sensors, Actuators, Metering and Sensing
  • SMART ACCESSIBILITY 2019, The Fourth International Conference on Universal Accessibility in the Internet of Things and Smart Environments

NexComm 2019
March 24 - 28, 2019 - Valencia, Spain

  • ICDT 2019, The Fourteenth International Conference on Digital Telecommunications
  • SPACOMM 2019, The Eleventh International Conference on Advances in Satellite and Space Communications
  • ICN 2019, The Eighteenth International Conference on Networks
  • ICONS 2019, The Fourteenth International Conference on Systems
  • MMEDIA 2019, The Eleventh International Conference on Advances in Multimedia
  • PESARO 2019, The Ninth International Conference on Performance, Safety and Robustness in Complex Systems and Applications
  • CTRQ 2019, The Twelfth International Conference on Communication Theory, Reliability, and Quality of Service
  • ALLDATA 2019, The Fifth International Conference on Big Data, Small Data, Linked Data and Open Data
  • SOFTENG 2019, The Fifth International Conference on Advances and Trends in Software Engineering

ComputationWorld 2019
May 5 - 9, 2019 - Venice, Italy

  • SERVICE COMPUTATION 2019, The Eleventh International Conference on Advanced Service Computing
  • CLOUD COMPUTING 2019, The Tenth International Conference on Cloud Computing, GRIDs, and Virtualization
  • FUTURE COMPUTING 2019, The Eleventh International Conference on Future Computational Technologies and Applications
  • COGNITIVE 2019, The Eleventh International Conference on Advanced Cognitive Technologies and Applications
  • ADAPTIVE 2019, The Eleventh International Conference on Adaptive and Self-Adaptive Systems and Applications
  • CONTENT 2019, The Eleventh International Conference on Creative Content Technologies
  • PATTERNS 2019, The Eleventh International Conference on Pervasive Patterns and Applications
  • COMPUTATION TOOLS 2019, The Tenth International Conference on Computational Logics, Algebras, Programming, Tools, and Benchmarking
  • BUSTECH 2019, The Ninth International Conference on Business Intelligence and Technology

InfoSys 2019
June 2 - 6, 2019 - Athens, Greece

  • ICNS 2019, The Fiteenth International Conference on Networking and Services
  • ICAS 2019, The FIfteenth International Conference on Autonomic and Autonomous Systems
  • ENERGY 2019, The Ninth International Conference on Smart Grids, Green Communications and IT Energy-aware Technologies
  • WEB 2019, The Sseventh International Conference on Building and Exploring Web Based Environments
  • DBKDA 2019, The Eleventh International Conference on Advances in Databases, Knowledge, and Data Applications
  • SIGNAL 2019, The Fourth International Conference on Advances in Signal, Image and Video Processing
  • BIOTECHNO 2019, The Eleventh International Conference on Bioinformatics, Biocomputational Systems and Biotechnologies

(to be completed)

 


ThinkMind // SECURWARE 2015, The Ninth International Conference on Emerging Security Information, Systems and Technologies // View article securware_2015_8_20_30113


A Novel Financial Instrument to Incentivize Investments in Information Security Controls and Mitigate Residual Risk

Authors:
Pankaj Pandey
Steven De Haes

Keywords: Information Security; Security Economics; Risk Management; Financial Instrument.

Abstract:
Recent cyber-attacks on various organizations indicate that even the most sophisticated technical controls are vulnerable. Furthermore, due to the problem of misaligned incentives it is inevitable to achieve absolute protection with technical controls against the risks and its impact. Thus, there is a space for alternative risk management methods. However, there is a lack of an (effective) financial mechanism to incentivize coordinated efforts by stakeholders in addressing the problem of information asymmetry, negative externality, and free-riding in the information security ecosystem. Therefore, we propose a novel financial instrument called information security financial instrument to incentivize investments in collaborative and multistakeholder initiatives to develop and implement stronger defense systems. The mechanism can contribute to an improvement in information security environment in a time bound manner. We have used a case-study to demonstrate the application of the information security financial instrument. Furthermore, we have analyzed the information security financial instrument against a set of requirements and its usefulness over cyber-insurance in incentivizing investments in information security mechanisms to manage risks. In our analysis, we found that information security financial instruments can be a solution to address (at least to some extent) various economic problems in the information security domain.

Pages: 166 to 175

Copyright: Copyright (c) IARIA, 2015

Publication date: August 23, 2015

Published in: conference

ISSN: 2162-2116

ISBN: 978-1-61208-427-5

Location: Venice, Italy

Dates: from August 23, 2015 to August 28, 2015

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