Central Bank Risk Management Fintech And Cybersecurity PDF Download
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| Author | : Mr. Ashraf Khan |
| Publisher | : International Monetary Fund |
| Total Pages | : 75 |
| Release | : 2021-04-23 |
| Genre | : Business & Economics |
| ISBN | : 1513582348 |
Download Central Bank Risk Management, Fintech, and Cybersecurity Book in PDF, ePub and Kindle
Based on technical assistance to central banks by the IMF’s Monetary and Capital Markets Department and Information Technology Department, this paper examines fintech and the related area of cybersecurity from the perspective of central bank risk management. The paper draws on findings from the IMF Article IV Database, selected FSAP and country cases, and gives examples of central bank risks related to fintech and cybersecurity. The paper highlights that fintech- and cybersecurity-related risks for central banks should be addressed by operationalizing sound internal risk management by establishing and strengthening an integrated risk management approach throughout the organization, including a dedicated risk management unit, ongoing sensitizing and training of Board members and staff, clear reporting lines, assessing cyber resilience and security posture, and tying risk management into strategic planning.. Given the fast-evolving nature of such risks, central banks could make use of timely and regular inputs from external experts.
| Author | : Ashraf Khan |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2016-02-23 |
| Genre | : Business & Economics |
| ISBN | : 1498376053 |
Download Central Bank Governance and the Role of Nonfinancial Risk Management Book in PDF, ePub and Kindle
This paper argues that nonfinancial risk management is an essential element of good governance of central banks. It provides a funnelled analysis, on the basis of selected literature, by (i) presenting an outline of central bank governance in general; (ii) zooming in on internal governance and organization issues of central banks; (iii) highlighting the main issues with nonfinancial risk management; and (iv) ending with recommendations for future work. It shows how attention for nonfinancial risk management has been growing, and how this has amplified the call for better governance of central banks. It stresses that in the area of nonfinancial risk management there are no crucial differences between commercial and central banks: both have people, processes, procedures, and structures. It highlights policy areas to be explored.
| Author | : El Bachir Boukherouaa |
| Publisher | : International Monetary Fund |
| Total Pages | : 35 |
| Release | : 2021-10-22 |
| Genre | : Business & Economics |
| ISBN | : 1589063953 |
Download Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance Book in PDF, ePub and Kindle
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
| Author | : Ms.Inutu Lukonga |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2018-09-11 |
| Genre | : Business & Economics |
| ISBN | : 1484376544 |
Download Fintech, Inclusive Growth and Cyber Risks: Focus on the MENAP and CCA Regions Book in PDF, ePub and Kindle
Financial technology (fintech) is emerging as an innovative way to achieve financial inclusion and the broader objective of inclusive growth. Thus far, fintech in the MENAP and CCA remains below potential with limited impact on financial inclusion. This paper reviews the fintech landscape in the MENAP and CCA regions, identifies the constraints to the growth of fintech and its contribution to inclusive growth and considers policy options to unlock the potential.
| Author | : Frank Adelmann |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 2020-12-07 |
| Genre | : Business & Economics |
| ISBN | : 1513512293 |
Download Cyber Risk and Financial Stability Book in PDF, ePub and Kindle
The ability of attackers to undermine, disrupt and disable information and communication technology systems used by financial institutions is a threat to financial stability and one that requires additional attention.
| Author | : Antoine Bouveret |
| Publisher | : International Monetary Fund |
| Total Pages | : 29 |
| Release | : 2018-06-22 |
| Genre | : Business & Economics |
| ISBN | : 1484352564 |
Download Cyber Risk for the Financial Sector: A Framework for Quantitative Assessment Book in PDF, ePub and Kindle
Cyber risk has emerged as a key threat to financial stability, following recent attacks on financial institutions. This paper presents a novel documentation of cyber risk around the world for financial institutions by analyzing the different types of cyber incidents (data breaches, fraud and business disruption) and identifying patterns using a variety of datasets. The other novel contribution that is outlined is a quantitative framework to assess cyber risk for the financial sector. The framework draws on a standard VaR type framework used to assess various types of stability risk and can be easily applied at the individual country level. The framework is applied in this paper to the available cross-country data and yields illustrative aggregated losses for the financial sector in the sample across a variety of scenarios ranging from 10 to 30 percent of net income.
| Author | : Emanuel Kopp |
| Publisher | : International Monetary Fund |
| Total Pages | : 36 |
| Release | : 2017-08-07 |
| Genre | : Business & Economics |
| ISBN | : 1484314131 |
Download Cyber Risk, Market Failures, and Financial Stability Book in PDF, ePub and Kindle
Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk.
| Author | : Robert Pringle |
| Publisher | : |
| Total Pages | : 269 |
| Release | : 2004 |
| Genre | : Banks and banking, Central |
| ISBN | : 9781902182254 |
Download New Horizons in Central Bank Risk Management Book in PDF, ePub and Kindle
| Author | : Elie Chamoun |
| Publisher | : International Monetary Fund |
| Total Pages | : 27 |
| Release | : 2019-12-27 |
| Genre | : Business & Economics |
| ISBN | : 1513525697 |
Download Risk Management Maturity Assessment at Central Banks Book in PDF, ePub and Kindle
Effective risk management at central banks is best enabled by a sound framework embedded throughout the organization that supports the design and execution of risk management activities. To evaluate the risk management practices at a central bank, the Safeguards Assessments Division of the IMF’s Finance Department developed a tool that facilitates stocktaking of elements that are present and categorizes the function based on its maturity. Tailored recommendations are then provided to the central bank which provide a roadmap to advance the risk management function.
| Author | : Gurdip Kaur |
| Publisher | : Springer Nature |
| Total Pages | : 193 |
| Release | : 2021-08-04 |
| Genre | : Business & Economics |
| ISBN | : 3030799158 |
Download Understanding Cybersecurity Management in FinTech Book in PDF, ePub and Kindle
This book uncovers the idea of understanding cybersecurity management in FinTech. It commences with introducing fundamentals of FinTech and cybersecurity to readers. It emphasizes on the importance of cybersecurity for financial institutions by illustrating recent cyber breaches, attacks, and financial losses. The book delves into understanding cyber threats and adversaries who can exploit those threats. It advances with cybersecurity threat, vulnerability, and risk management in FinTech. The book helps readers understand cyber threat landscape comprising different threat categories that can exploit different types of vulnerabilties identified in FinTech. It puts forward prominent threat modelling strategies by focusing on attackers, assets, and software and addresses the challenges in managing cyber risks in FinTech. The authors discuss detailed cybersecurity policies and strategies that can be used to secure financial institutions and provide recommendations to secure financial institutions from cyber-attacks.
