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Economics of Cyber Security and the Way Forward

Economics of Cyber Security and the Way Forward

Taiseera Al Balushi, Saqib Ali, Osama Rehman
Copyright: © 2016 |Volume: 6 |Issue: 4 |Pages: 17
ISSN: 1947-3435|EISSN: 1947-3443|EISBN13: 9781466692213|DOI: 10.4018/IJCWT.2016100104
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MLA

Al Balushi, Taiseera, et al. "Economics of Cyber Security and the Way Forward." IJCWT vol.6, no.4 2016: pp.41-57. http://doi.org/10.4018/IJCWT.2016100104

APA

Al Balushi, T., Ali, S., & Rehman, O. (2016). Economics of Cyber Security and the Way Forward. International Journal of Cyber Warfare and Terrorism (IJCWT), 6(4), 41-57. http://doi.org/10.4018/IJCWT.2016100104

Chicago

Al Balushi, Taiseera, Saqib Ali, and Osama Rehman. "Economics of Cyber Security and the Way Forward," International Journal of Cyber Warfare and Terrorism (IJCWT) 6, no.4: 41-57. http://doi.org/10.4018/IJCWT.2016100104

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Abstract

Initiatives carried by companies, institutes and governments to flourish and embellish the Information and Communication Technology (ICT) among the public have led to its penetration into every walk of life. ICT enhances the efficiency of various systems, such as the organisation and transfer of data. However, with the digital and remote access features of ICT comes the motivation towards financial, political and military gains by rivals. Security threats and vulnerabilities in existing ICT systems have resulted in cyber-attacks that are usually followed by substantial financial losses. This study discusses the security in ICT from a business, economic and government perspective. The study makes an attempt to understand the seriousness of the security issues and highlights the consequences of security breech from an economic perspective. Based on the performed analysis, the factors behind these attacks are provided along with recommendations for better preparations against them.

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