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Article
A FRAMEWORK FOR CYBER SECURITY AREAS EVALUATION IN FINANCIAL SECTOR
Julija Gavenaite-Sirvydiene, Algita Miecinskiene
ABSTRACT: Nowadays, cyber-attacks are becoming more frequent and sophisticated. Financial sector companies are one of the top targets of cyber-attacks because of their specific activity and possessed data. Usually, cyber risks refer to financial losses, reputational damage, lost clients, damaged systems, or business interruption. An effective risk management strategy could be created and implemented by specifically identifying the most important cyber security areas and criteria in the financial institution. This scientific paper contributes to improvement of cyber security awareness, development of cyber risk management.
KEYWORDS: cyber security, cyber-attacks, banking, and financial sector, cyber security framework, cyber risk management.
JEL classification: G32, Q55, D81