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Industry News: ESG5

      Cyber Security and Ransomware in Financial Markets

      Jul 15, 2022 11:01:54 AM

      2022-07

      Bank of Canada: Financial markets face the constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients’ vulnerability to cyber attacks and about the fees charged. We characterize which cyber attacks actors choose.

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      Topics:North America

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