The Law and Economics of Cybersecurity


Book Description

Cybersecurity is an increasing problem for which the market may fail to produce a solution. The ultimate source is that computer owners lack adequate incentives to invest in security because they bear fully the costs of their security precautions but share the benefits with their network partners. In a world of positive transaction costs, individuals often select less than optimal security levels. The problem is compounded because the insecure networks extend far beyond the regulatory jurisdiction of any one nation or even coalition of nations. This book brings together the views of leading law and economics scholars on the nature of the cybersecurity problem and possible solutions to it. Many of these solutions are market based, but they need some help, either from government or industry groups or both. Indeed, the cybersecurity problem prefigures a host of 21st century problems created by information technology and the globalization of markets.




You'll See This Message When It Is Too Late


Book Description

What we can learn from the aftermath of cybersecurity breaches and how we can do a better job protecting online data. Cybersecurity incidents make the news with startling regularity. Each breach—the theft of 145.5 million Americans' information from Equifax, for example, or the Russian government's theft of National Security Agency documents, or the Sony Pictures data dump—makes headlines, inspires panic, instigates lawsuits, and is then forgotten. The cycle of alarm and amnesia continues with the next attack, and the one after that. In this book, cybersecurity expert Josephine Wolff argues that we shouldn't forget about these incidents, we should investigate their trajectory, from technology flaws to reparations for harm done to their impact on future security measures. We can learn valuable lessons in the aftermath of cybersecurity breaches. Wolff describes a series of significant cybersecurity incidents between 2005 and 2015, mapping the entire life cycle of each breach in order to identify opportunities for defensive intervention. She outlines three types of motives underlying these attacks—financial gain, espionage, and public humiliation of the victims—that have remained consistent through a decade of cyberattacks, offers examples of each, and analyzes the emergence of different attack patterns. The enormous TJX breach in 2006, for instance, set the pattern for a series of payment card fraud incidents that led to identity fraud and extortion; the Chinese army conducted cyberespionage campaigns directed at U.S.-based companies from 2006 to 2014, sparking debate about the distinction between economic and political espionage; and the 2014 breach of the Ashley Madison website was aimed at reputations rather than bank accounts.




Economics of Information Security and Privacy


Book Description

The Workshop on the Economics of Information Security (WEIS) is the leading forum for interdisciplinary research and scholarship on information security and privacy, combining ideas, techniques, and expertise from the fields of economics, social science, business, law, policy, and computer science. In 2009, WEIS was held in London, at UCL, a constituent college of the University of London. Economics of Information Security and Privacy includes chapters presented at WEIS 2009, having been carefully reviewed by a program committee composed of leading researchers. Topics covered include identity theft, modeling uncertainty's effects, future directions in the economics of information security, economics of privacy, options, misaligned incentives in systems, cyber-insurance, and modeling security dynamics. Economics of Information Security and Privacy is designed for managers, policy makers, and researchers working in the related fields of economics of information security. Advanced-level students focusing on computer science, business management and economics will find this book valuable as a reference.




Economics of Information Security and Privacy III


Book Description

The Workshop on the Economics of Information Security (WEIS) is the leading forum for interdisciplinary scholarship on information security, combining expertise from the fields of economics, social science, business, law, policy and computer science. Prior workshops have explored the role of incentives between attackers and defenders, identified market failures dogging Internet security, and assessed investments in cyber-defense. Current contributions build on past efforts using empirical and analytic tools to not only understand threats, but also strengthen security through novel evaluations of available solutions. Economics of Information Security and Privacy III addresses the following questions: how should information risk be modeled given the constraints of rare incidence and high interdependence; how do individuals' and organizations' perceptions of privacy and security color their decision making; how can we move towards a more secure information infrastructure and code base while accounting for the incentives of stakeholders?




The Economics of Information Security and Privacy


Book Description

In the late 1990s, researchers began to grasp that the roots of many information security failures can be better explained with the language of economics than by pointing to instances of technical flaws. This led to a thriving new interdisciplinary research field combining economic and engineering insights, measurement approaches and methodologies to ask fundamental questions concerning the viability of a free and open information society. While economics and information security comprise the nucleus of an academic movement that quickly drew the attention of thinktanks, industry, and governments, the field has expanded to surrounding areas such as management of information security, privacy, and, more recently, cybercrime, all studied from an interdisciplinary angle by combining methods from microeconomics, econometrics, qualitative social sciences, behavioral sciences, and experimental economics. This book is structured in four parts, reflecting the main areas: management of information security, economics of information security, economics of privacy, and economics of cybercrime. Each individual contribution documents, discusses, and advances the state of the art concerning its specific research questions. It will be of value to academics and practitioners in the related fields.




Economics of Information Security


Book Description

Designed for managers struggling to understand the risks in organizations dependent on secure networks, this book applies economics not to generate breakthroughs in theoretical economics, but rather breakthroughs in understanding the problems of security.




Cyber Law and Cyber Security in Developing and Emerging Economies


Book Description

This timely and important book illuminates the impact of cyber law on the growth and development of emerging and developing economies. Using a strong theoretical framework firmly grounded in resource-based and technology diffusion literature, the authors convey a subtle understanding of the ways public and private sector entities in developing and emerging countries adopt cyber space processes. This book reveals that the diffusion of cyber activities in developing and emerging economies is relatively low, with the main stumbling blocks resting in regulatory, cultural, and social factors. The authors argue that cyber crimes constitute a prime obstacle to the diffusion of e-commence and e-governments in developing economies, and governments have an important role in developing control mechanisms in the form of laws. However, setting appropriate policies and complementary services, particularly those affecting the telecommunications sector and other infrastructure, human capital and the investment environment, severely constrains Internet access. Using both strategic and operational perspectives, the authors discuss the concrete experience of constructing and implementing cyber laws and cyber security measures in developing and emerging countries, and analyse their content and appropriateness. Professionals, academics, students, and policymakers working in the area of cyber space, e-commerce and economic development, and United Nations entities working closely with the Millennium Development Goals, will find this book an invaluable reference.




Cybersecurity, Law, and Economics


Book Description

This book examines the intersection between cybersecurity and the law and economy of India and offers a course of action in designing efficacious policies against emerging cybercrimes in the country. It reviews the boom in infrastructure growth in India and the security challenges this presents to the domestic economy and legal system. The contributors conducted a risk assessment of the potential economic impacts and security vulnerabilities, as well as identified the current regulatory and legal gaps regarding cryptocurrency, ecommerce, and digital banking. The book also considers the subject of data localization and sovereignty, and the challenges of establishing an indigenous data architecture. By discussing the economic impact of cybersecurity and incorporating recommendations from scholars, activists, academics, young legal intellectuals, and professionals in the field, the chapters propose new measures and protections for lawmakers and policymakers to adopt. This book will interest researchers and students of cybersecurity, law and economics, international relations, and Indian policymakers.




Managing Cyber Attacks in International Law, Business, and Relations


Book Description

This book presents a novel framework to reconceptualize Internet governance and better manage cyber attacks. Specifically, it makes an original contribution by examining the potential of polycentric regulation to increase accountability through bottom-up action. It also provides a synthesis of the current state of cybersecurity research, bringing features of the cloak and dagger world of cyber attacks to light and comparing and contrasting the cyber threat to all relevant stakeholders. Throughout the book, cybersecurity is treated holistically, covering outstanding issues in law, science, economics, and politics. This interdisciplinary approach is an exemplar of how strategies from different disciplines as well as the private and public sectors may cross-pollinate to enhance cybersecurity. Case studies and examples illustrate what is at stake and identify best practices. The book discusses technical issues of Internet governance and cybersecurity while presenting the material in an informal, straightforward manner. The book is designed to inform readers about the interplay of Internet governance and cybersecurity and the potential of polycentric regulation to help foster cyber peace.




Blackhatonomics


Book Description

Blackhatonomics explains the basic economic truths of the underworld of hacking, and why people around the world devote tremendous resources to developing and implementing malware. The book provides an economic view of the evolving business of cybercrime, showing the methods and motivations behind organized cybercrime attacks, and the changing tendencies towards cyber-warfare. Written by an exceptional author team of Will Gragido, Daniel J Molina, John Pirc and Nick Selby, Blackhatonomics takes practical academic principles and backs them up with use cases and extensive interviews, placing you right into the mindset of the cyber criminal. - Historical perspectives of the development of malware as it evolved into a viable economic endeavour - Country specific cyber-crime analysis of the United States, China, and Russia, as well as an analysis of the impact of Globalization on cyber-crime - Presents the behind the scenes methods used to successfully execute financially motivated attacks in a globalized cybercrime economy - Provides unique insights, analysis, and useful tools for justifying corporate information security budgets - Provides multiple points of view, from pure research, to corporate, to academic, to law enforcement - Includes real world cybercrime case studies and profiles of high-profile cybercriminals