Book Chapter: Cyber Risk Quantification of Financial Technology

In February 2018, I wrote a chapter in a book, titled Fintech: Growth and Deregulation. The book is edited by Jack Freund, who most of you will recognize as the co-author of Measuring and Managing Information Risk.

I happy to announce that I’m now able to re-post my book chapter, titled “Cyber-risk Quantification of Financial Technology” here. If you are interested in blockchain tech, Fintech, risk quantification and emerging risks, you may find it interesting. It’s also a primer to Factor Analysis of Information Risk (FAIR), one of many risk quantification models. It’s not the only one I use, but the one I use most frequently.

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What’s the difference between a vulnerability scan, penetration test and a risk analysis?

An often overlooked, but very important process in the development of any Internet-facing service is testing it for vulnerabilities, knowing if those vulnerabilities are actually exploitable in your particular environment and, lastly, knowing what the risks of those vulnerabilities are to your firm or product launch. These three different processes are known as a vulnerability assessment, penetration test and a risk analysis. Knowing the difference is critical when hiring an outside firm to test the security of your infrastructure or a particular component of your network.

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