Bank cyber chiefs at odds over risk models

Vast scope of threats makes modelling unfeasible, say practitioners

Cyber protection
Not so easy: can risk models ever accurately capture cyber risk?

An old business adage holds that ‘you can’t manage what you can’t measure’. This is especially apposite in risk management. Banks have spent several decades and billions of dollars developing models to estimate potential losses from market and credit risks, but many chief information security officers (CISOs) confess to being unable to measure their exposure to cyber risk with anything like the same degree of accuracy.

“Wouldn’t it be great if CISOs had something like credit risk [modelling], w

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