"It's the struggle between simplicity and security. The power of USB is that you plug it in and it just works. This simplicity is exactly what's enabling these attacks."
92-448: BadUSB is a computer security attack using USB devices that are programmed with malicious software. For example, USB flash drives can contain a programmable Intel 8051 microcontroller, which can be reprogrammed, turning a USB flash drive into a malicious device. This attack works by programming the fake USB flash drive to emulate a keyboard. Once it is plugged into a computer, it is automatically recognized and allowed to interact with
184-587: A big impact on information security in organizations. Cultural concepts can help different segments of the organization work effectively or work against effectiveness toward information security within an organization. Information security culture is the "...totality of patterns of behavior in an organization that contributes to the protection of information of all kinds." Andersson and Reimers (2014) found that employees often do not see themselves as part of their organization's information security effort and often take actions that impede organizational changes. Indeed,
276-428: A broad range of subfields exists within finance. Asset- , money- , risk- and investment management aim to maximize value and minimize volatility . Financial analysis assesses the viability, stability, and profitability of an action or entity. Some fields are multidisciplinary, such as mathematical finance , financial law , financial economics , financial engineering and financial technology . These fields are
368-476: A colleague, which, when listened to by an attacker, could be exploited. Data transmitted across an "open network" allows an attacker to exploit a vulnerability and intercept it via various methods. Unlike malware , direct-access attacks, or other forms of cyber attacks, eavesdropping attacks are unlikely to negatively affect the performance of networks or devices, making them difficult to notice. In fact, "the attacker does not need to have any ongoing connection to
460-412: A consequence make a Cold boot attack possible, to hardware implementation faults that allow for access or guessing of other values that normally should be inaccessible. In Side-channel attack scenarios, the attacker would gather such information about a system or network to guess its internal state and as a result access the information which is assumed by the victim to be secure. The target information in
552-445: A feature of modern computers that allows certain devices, such as external hard drives, graphics cards, or network cards, to access the computer's memory directly." Eavesdropping is the act of surreptitiously listening to a private computer conversation (communication), usually between hosts on a network. It typically occurs when a user connects to a network where traffic is not secured or encrypted and sends sensitive business data to
644-590: A hardware firewall, was released, which is designed to prevent BadUSB style attacks. In March 2020, the FBI issued a warning that members of the FIN7 cybercrime group had been targeting companies in the retail, restaurant, and hotel industries with BadUSB attacks designed to deliver REvil or BlackMatter ransomware . Packages have been sent to employees in IT , executive management , and human resources departments. One intended target
736-431: A high degree of computational complexity and are slow to converge to a solution on classical computers. In particular, when it comes to option pricing, there is additional complexity resulting from the need to respond to quickly changing markets. For example, in order to take advantage of inaccurately priced stock options, the computation must complete before the next change in the almost continuously changing stock market. As
828-478: A loan or other debt obligations. The main areas of personal finance are considered to be income, spending, saving, investing, and protection. The following steps, as outlined by the Financial Planning Standards Board, suggest that an individual will understand a potentially secure personal finance plan after: Corporate finance deals with the actions that managers take to increase the value of
920-710: A long-term strategic perspective regarding investment decisions that affect public entities. These long-term strategic periods typically encompass five or more years. Public finance is primarily concerned with: Central banks, such as the Federal Reserve System banks in the United States and the Bank of England in the United Kingdom , are strong players in public finance. They act as lenders of last resort as well as strong influences on monetary and credit conditions in
1012-476: A malicious code inside a particular HTML or web page. HTML files can carry payloads concealed as benign, inert data in order to defeat content filters . These payloads can be reconstructed on the other side of the filter. When a target user opens the HTML, the malicious code is activated; the web browser then "decodes" the script, which then unleashes the malware onto the target's device. Employee behavior can have
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#17330925544031104-414: A mix of an art and science , and there are ongoing related efforts to organize a list of unsolved problems in finance . Managerial finance is the branch of finance that deals with the financial aspects of the management of a company, and the financial dimension of managerial decision-making more broadly. It provides the theoretical underpin for the practice described above , concerning itself with
1196-439: A new class of multi-vector, polymorphic cyber threats combine several types of attacks and change form to avoid cybersecurity controls as they spread. Multi-vector polymorphic attacks, as the name describes, are both multi-vectored and polymorphic. Firstly, they are a singular attack that involves multiple methods of attack. In this sense, they are “multi-vectored (i.e. the attack can use multiple means of propagation such as via
1288-447: A result, the finance community is always looking for ways to overcome the resulting performance issues that arise when pricing options. This has led to research that applies alternative computing techniques to finance. Most commonly used quantum financial models are quantum continuous model, quantum binomial model, multi-step quantum binomial model etc. The origin of finance can be traced to the beginning of state formation and trade during
1380-507: A separate machine filtering network traffic. Firewalls are common amongst machines that are permanently connected to the Internet. Some organizations are turning to big data platforms, such as Apache Hadoop , to extend data accessibility and machine learning to detect advanced persistent threats . Finance Finance refers to monetary resources and to the study and discipline of money , currency , assets and liabilities . As
1472-601: A side channel can be challenging to detect due to its low amplitude when combined with other signals Social engineering , in the context of computer security, aims to convince a user to disclose secrets such as passwords, card numbers, etc. or grant physical access by, for example, impersonating a senior executive, bank, a contractor, or a customer. This generally involves exploiting people's trust, and relying on their cognitive biases . A common scam involves emails sent to accounting and finance department personnel, impersonating their CEO and urgently requesting some action. One of
1564-446: A sophisticated mathematical model is required, and thus overlaps several of the above. As a specialized practice area, quantitative finance comprises primarily three sub-disciplines; the underlying theory and techniques are discussed in the next section: DCF valuation formula widely applied in business and finance, since articulated in 1938 . Here, to get the value of the firm , its forecasted free cash flows are discounted to
1656-705: A standard computer user may be able to exploit a vulnerability in the system to gain access to restricted data; or even become root and have full unrestricted access to a system. The severity of attacks can range from attacks simply sending an unsolicited email to a ransomware attack on large amounts of data. Privilege escalation usually starts with social engineering techniques, often phishing . Privilege escalation can be separated into two strategies, horizontal and vertical privilege escalation: Any computational system affects its environment in some form. This effect it has on its environment can range from electromagnetic radiation, to residual effect on RAM cells which as
1748-692: A subject of study, it is related to but distinct from economics , which is the study of the production , distribution , and consumption of goods and services . Based on the scope of financial activities in financial systems , the discipline can be divided into personal , corporate , and public finance . In these financial systems, assets are bought, sold, or traded as financial instruments , such as currencies , loans , bonds , shares , stocks , options , futures , etc. Assets can also be banked , invested , and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. Due to its wide scope,
1840-485: A way of filtering network data between a host or a network and another network, such as the Internet . They can be implemented as software running on the machine, hooking into the network stack (or, in the case of most UNIX -based operating systems such as Linux , built into the operating system kernel ) to provide real-time filtering and blocking. Another implementation is a so-called physical firewall , which consists of
1932-398: A well-diversified portfolio, achieved investment performance will, in general, largely be a function of the asset mix selected, while the individual securities are less impactful. The specific approach or philosophy will also be significant, depending on the extent to which it is complementary with the market cycle . Risk management here is discussed immediately below. A quantitative fund
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#17330925544032024-447: A wrong password enough consecutive times to cause the victim's account to be locked, or they may overload the capabilities of a machine or network and block all users at once. While a network attack from a single IP address can be blocked by adding a new firewall rule, many forms of distributed denial-of-service (DDoS) attacks are possible, where the attack comes from a large number of points. In this case, defending against these attacks
2116-482: Is about performing valuation and asset allocation today, based on the risk and uncertainty of future outcomes while appropriately incorporating the time value of money . Determining the present value of these future values, "discounting", must be at the risk-appropriate discount rate , in turn, a major focus of finance-theory. As financial theory has roots in many disciplines, including mathematics, statistics, economics, physics, and psychology, it can be considered
2208-759: Is further amplified by the growth of smart devices , including smartphones , televisions , and the various devices that constitute the Internet of things (IoT). Cybersecurity has emerged as one of the most significant new challenges facing the contemporary world, due to both the complexity of information systems and the societies they support. Security is particularly crucial for systems that govern large-scale systems with far-reaching physical effects, such as power distribution , elections , and finance . Although many aspects of computer security involve digital security, such as electronic passwords and encryption , physical security measures such as metal locks are still used to prevent unauthorized tampering. IT security
2300-436: Is managed using computer-based mathematical techniques (increasingly, machine learning ) instead of human judgment. The actual trading is typically automated via sophisticated algorithms . Risk management , in general, is the study of how to control risks and balance the possibility of gains; it is the process of measuring risk and then developing and implementing strategies to manage that risk. Financial risk management
2392-444: Is mathematics that is actually important in this new scenario Finance theory is heavily based on financial instrument pricing such as stock option pricing. Many of the problems facing the finance community have no known analytical solution. As a result, numerical methods and computer simulations for solving these problems have proliferated. This research area is known as computational finance . Many computational finance problems have
2484-471: Is much more difficult. Such attacks can originate from the zombie computers of a botnet or from a range of other possible techniques, including distributed reflective denial-of-service (DRDoS), where innocent systems are fooled into sending traffic to the victim. With such attacks, the amplification factor makes the attack easier for the attacker because they have to use little bandwidth themselves. To understand why attackers may carry out these attacks, see
2576-508: Is not a perfect subset of information security , therefore does not completely align into the security convergence schema. A vulnerability refers to a flaw in the structure, execution, functioning, or internal oversight of a computer or system that compromises its security. Most of the vulnerabilities that have been discovered are documented in the Common Vulnerabilities and Exposures (CVE) database. An exploitable vulnerability
2668-657: Is often indirect, through a financial intermediary such as a bank , or via the purchase of notes or bonds ( corporate bonds , government bonds , or mutual bonds) in the bond market . The lender receives interest, the borrower pays a higher interest than the lender receives, and the financial intermediary earns the difference for arranging the loan. A bank aggregates the activities of many borrowers and lenders. A bank accepts deposits from lenders, on which it pays interest. The bank then lends these deposits to borrowers. Banks allow borrowers and lenders, of different sizes, to coordinate their activity. Investing typically entails
2760-439: Is one for which at least one working attack or exploit exists. Actors maliciously seeking vulnerabilities are known as threats . Vulnerabilities can be researched, reverse-engineered, hunted, or exploited using automated tools or customized scripts. Various people or parties are vulnerable to cyber attacks; however, different groups are likely to experience different types of attacks more than others. In April 2023,
2852-494: Is protected by standard security measures, these may be bypassed by booting another operating system or tool from a CD-ROM or other bootable media. Disk encryption and the Trusted Platform Module standard are designed to prevent these attacks. Direct service attackers are related in concept to direct memory attacks which allow an attacker to gain direct access to a computer's memory. The attacks "take advantage of
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2944-497: Is referred to as "wholesale finance". Institutions here extend the products offered , with related trading, to include bespoke options , swaps , and structured products , as well as specialized financing ; this " financial engineering " is inherently mathematical , and these institutions are then the major employers of "quants" (see below ). In these institutions, risk management , regulatory capital , and compliance play major roles. As outlined, finance comprises, broadly,
3036-425: Is spear-phishing which leverages personal or organization-specific details to make the attacker appear like a trusted source. Spear-phishing attacks target specific individuals, rather than the broad net cast by phishing attempts. Privilege escalation describes a situation where an attacker with some level of restricted access is able to, without authorization, elevate their privileges or access level. For example,
3128-471: Is the branch of economics that studies the interrelation of financial variables , such as prices , interest rates and shares, as opposed to real economic variables, i.e. goods and services . It thus centers on pricing, decision making, and risk management in the financial markets , and produces many of the commonly employed financial models . ( Financial econometrics is the branch of financial economics that uses econometric techniques to parameterize
3220-485: Is the practice of protecting corporate value against financial risks , often by "hedging" exposure to these using financial instruments. The focus is particularly on credit and market risk, and in banks, through regulatory capital, includes operational risk. Financial risk management is related to corporate finance in two ways. Firstly, firm exposure to market risk is a direct result of previous capital investments and funding decisions; while credit risk arises from
3312-424: Is the protection of computer software , systems and networks from threats that can lead to unauthorized information disclosure, theft or damage to hardware , software , or data , as well as from the disruption or misdirection of the services they provide. The significance of the field stems from the expanded reliance on computer systems , the Internet , and wireless network standards . Its importance
3404-400: Is then often referred to as "business finance". Typically, "corporate finance" relates to the long term objective of maximizing the value of the entity's assets , its stock , and its return to shareholders , while also balancing risk and profitability . This entails three primary areas: The latter creates the link with investment banking and securities trading , as above, in that
3496-643: The Bronze Age . The earliest historical evidence of finance is dated to around 3000 BCE. Banking originated in West Asia, where temples and palaces were used as safe places for the storage of valuables. Initially, the only valuable that could be deposited was grain, but cattle and precious materials were eventually included. During the same period, the Sumerian city of Uruk in Mesopotamia supported trade by lending as well as
3588-642: The United Kingdom Department for Science, Innovation & Technology released a report on cyber attacks over the last 12 months. They surveyed 2,263 UK businesses, 1,174 UK registered charities, and 554 education institutions. The research found that "32% of businesses and 24% of charities overall recall any breaches or attacks from the last 12 months." These figures were much higher for "medium businesses (59%), large businesses (69%), and high-income charities with £500,000 or more in annual income (56%)." Yet, although medium or large businesses are more often
3680-623: The United States Department of Health and Human Services , with letters talking about free gift cards or COVID-19 protocols that were purportedly further explained by information on the USB drive. As above, when plugged in, the USB drives emulate a keyboard, and then initiate a series of keystrokes which open a PowerShell window and issue commands to download malware. Computer security Computer security (also cybersecurity , digital security , or information technology (IT) security )
3772-446: The managerial application of the various finance techniques . Academics working in this area are typically based in business school finance departments, in accounting , or in management science . The tools addressed and developed relate in the main to managerial accounting and corporate finance : the former allow management to better understand, and hence act on, financial information relating to profitability and performance;
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3864-724: The numerical methods applied here. Experimental finance aims to establish different market settings and environments to experimentally observe and provide a lens through which science can analyze agents' behavior and the resulting characteristics of trading flows, information diffusion, and aggregation, price setting mechanisms, and returns processes. Researchers in experimental finance can study to what extent existing financial economics theory makes valid predictions and therefore prove them, as well as attempt to discover new principles on which such theory can be extended and be applied to future financial decisions. Research may proceed by conducting trading simulations or by establishing and studying
3956-436: The "practice of designing computer systems to achieve security goals." These goals have overlap with the principles of "security by design" explored above, including to "make initial compromise of the system difficult," and to "limit the impact of any compromise." In practice, the role of a security architect would be to ensure the structure of a system reinforces the security of the system, and that new changes are safe and meet
4048-407: The 'attacker motivation' section. A direct-access attack is when an unauthorized user (an attacker) gains physical access to a computer, most likely to directly copy data from it or steal information. Attackers may also compromise security by making operating system modifications, installing software worms , keyloggers , covert listening devices or using wireless microphones. Even when the system
4140-508: The Verizon Data Breach Investigations Report 2020, which examined 3,950 security breaches, discovered 30% of cybersecurity incidents involved internal actors within a company. Research shows information security culture needs to be improved continuously. In "Information Security Culture from Analysis to Change", authors commented, "It's a never-ending process, a cycle of evaluation and change or maintenance." To manage
4232-558: The Web, email and applications." However, they are also multi-staged, meaning that “they can infiltrate networks and move laterally inside the network.” The attacks can be polymorphic, meaning that the cyberattacks used such as viruses, worms or trojans “constantly change (“morph”) making it nearly impossible to detect them using signature-based defences.” Phishing is the attempt of acquiring sensitive information such as usernames, passwords, and credit card details directly from users by deceiving
4324-478: The above " Fundamental theorem of asset pricing ". The subject has a close relationship with financial economics, which, as outlined, is concerned with much of the underlying theory that is involved in financial mathematics: generally, financial mathematics will derive and extend the mathematical models suggested. Computational finance is the branch of (applied) computer science that deals with problems of practical interest in finance, and especially emphasizes
4416-501: The behavior of people in artificial, competitive, market-like settings. Behavioral finance studies how the psychology of investors or managers affects financial decisions and markets and is relevant when making a decision that can impact either negatively or positively on one of their areas. With more in-depth research into behavioral finance, it is possible to bridge what actually happens in financial markets with analysis based on financial theory. Behavioral finance has grown over
4508-505: The best form of encryption possible for wireless networks is best practice, as well as using HTTPS instead of an unencrypted HTTP . Programs such as Carnivore and NarusInSight have been used by the Federal Bureau of Investigation (FBI) and NSA to eavesdrop on the systems of internet service providers . Even machines that operate as a closed system (i.e., with no contact with the outside world) can be eavesdropped upon by monitoring
4600-579: The business's credit policy and is often addressed through credit insurance and provisioning . Secondly, both disciplines share the goal of enhancing or at least preserving, the firm's economic value , and in this context overlaps also enterprise risk management , typically the domain of strategic management . Here, businesses devote much time and effort to forecasting , analytics and performance monitoring . (See ALM and treasury management .) For banks and other wholesale institutions, risk management focuses on managing, and as necessary hedging,
4692-891: The capital raised will generically comprise debt, i.e. corporate bonds , and equity , often listed shares . Re risk management within corporates, see below . Financial managers—i.e. as distinct from corporate financiers—focus more on the short term elements of profitability, cash flow, and " working capital management " ( inventory , credit and debtors ), ensuring that the firm can safely and profitably carry out its financial and operational objectives; i.e. that it: (1) can service both maturing short-term debt repayments, and scheduled long-term debt payments, and (2) has sufficient cash flow for ongoing and upcoming operational expenses . (See Financial management and Financial planning and analysis .) Public finance describes finance as related to sovereign states, sub-national entities, and related public entities or agencies. It generally encompasses
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#17330925544034784-458: The computer. It can then initiate a series of keystrokes which open a command window and issue commands to download malware. The BadUSB attack was first revealed during a Black Hat talk in 2014 by Karsten Nohl , Sascha Krißler and Jakob Lell. Two months after the talk, other researchers published code that can be used to exploit the vulnerability. In 2017, version 1.0 of the USG dongle, which acts like
4876-461: The economy. Development finance , which is related, concerns investment in economic development projects provided by a (quasi) governmental institution on a non-commercial basis; these projects would otherwise not be able to get financing . A public–private partnership is primarily used for infrastructure projects: a private sector corporate provides the financing up-front, and then draws profits from taxpayers or users. Climate finance , and
4968-416: The entire computer." Backdoors can be very hard to detect and are usually discovered by someone who has access to the application source code or intimate knowledge of the operating system of the computer. Denial-of-service attacks (DoS) are designed to make a machine or network resource unavailable to its intended users. Attackers can deny service to individual victims, such as by deliberately entering
5060-672: The excess, intending to earn a fair return. Correspondingly, an entity where income is less than expenditure can raise capital usually in one of two ways: (i) by borrowing in the form of a loan (private individuals), or by selling government or corporate bonds ; (ii) by a corporation selling equity , also called stock or shares (which may take various forms: preferred stock or common stock ). The owners of both bonds and stock may be institutional investors —financial institutions such as investment banks and pension funds —or private individuals, called private investors or retail investors. (See Financial market participants .) The lending
5152-465: The faint electromagnetic transmissions generated by the hardware. TEMPEST is a specification by the NSA referring to these attacks. Malicious software ( malware ) is any software code or computer program "intentionally written to harm a computer system or its users." Once present on a computer, it can leak sensitive details such as personal information, business information and passwords, can give control of
5244-510: The field is referred to as quantitative finance and / or mathematical finance, and comprises primarily the three areas discussed. The main mathematical tools and techniques are, correspondingly: Mathematically, these separate into two analytic branches : derivatives pricing uses risk-neutral probability (or arbitrage-pricing probability), denoted by "Q"; while risk and portfolio management generally use physical (or actual or actuarial) probability, denoted by "P". These are interrelated through
5336-416: The field. Quantum finance is an interdisciplinary field, in which theories and methods developed by quantum physicists and economists are applied to solve financial problems. It represents a branch known as econophysics. Although quantum computational methods have been around for quite some time and use the basic principles of physics to better understand the ways to implement and manage cash flows, it
5428-410: The firm to the shareholders, the sources of funding and the capital structure of corporations, and the tools and analysis used to allocate financial resources. While corporate finance is in principle different from managerial finance , which studies the financial management of all firms rather than corporations alone, the concepts are applicable to the financial problems of all firms, and this area
5520-451: The first scholarly work in this area. The field is largely focused on the modeling of derivatives —with much emphasis on interest rate- and credit risk modeling —while other important areas include insurance mathematics and quantitative portfolio management . Relatedly, the techniques developed are applied to pricing and hedging a wide range of asset-backed , government , and corporate -securities. As above , in terms of practice,
5612-627: The flows of capital that take place between individuals and households ( personal finance ), governments ( public finance ), and businesses ( corporate finance ). "Finance" thus studies the process of channeling money from savers and investors to entities that need it. Savers and investors have money available which could earn interest or dividends if put to productive use. Individuals, companies and governments must obtain money from some external source, such as loans or credit, when they lack sufficient funds to run their operations. In general, an entity whose income exceeds its expenditure can lend or invest
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#17330925544035704-457: The following sections: Security by design, or alternately secure by design, means that the software has been designed from the ground up to be secure. In this case, security is considered a main feature. The UK government's National Cyber Security Centre separates secure cyber design principles into five sections: These design principles of security by design can include some of the following techniques: Security architecture can be defined as
5796-400: The foundation of business and accounting . In some cases, theories in finance can be tested using the scientific method , covered by experimental finance . The early history of finance parallels the early history of money , which is prehistoric . Ancient and medieval civilizations incorporated basic functions of finance, such as banking, trading and accounting, into their economies. In
5888-708: The fundamental risk mitigant here, investment managers will apply various hedging techniques as appropriate, these may relate to the portfolio as a whole or to individual stocks . Bond portfolios are often (instead) managed via cash flow matching or immunization , while for derivative portfolios and positions, traders use "the Greeks" to measure and then offset sensitivities. In parallel, managers — active and passive — will monitor tracking error , thereby minimizing and preempting any underperformance vs their "benchmark" . Quantitative finance—also referred to as "mathematical finance"—includes those finance activities where
5980-506: The heart of investment management is asset allocation — diversifying the exposure among these asset classes , and among individual securities within each asset class—as appropriate to the client's investment policy , in turn, a function of risk profile, investment goals, and investment horizon (see Investor profile ). Here: Overlaid is the portfolio manager's investment style —broadly, active vs passive , value vs growth , and small cap vs. large cap —and investment strategy . In
6072-490: The information security culture, five steps should be taken: pre-evaluation, strategic planning, operative planning, implementation, and post-evaluation. In computer security, a countermeasure is an action, device, procedure or technique that reduces a threat, a vulnerability, or an attack by eliminating or preventing it, by minimizing the harm it can cause, or by discovering and reporting it so that corrective action can be taken. Some common countermeasures are listed in
6164-444: The last few decades to become an integral aspect of finance. Behavioral finance includes such topics as: A strand of behavioral finance has been dubbed quantitative behavioral finance , which uses mathematical and statistical methodology to understand behavioral biases in conjunction with valuation. Quantum finance involves applying quantum mechanical approaches to financial theory, providing novel methods and perspectives in
6256-423: The late 19th century, the global financial system was formed. In the middle of the 20th century, finance emerged as a distinct academic discipline, separate from economics. The earliest doctoral programs in finance were established in the 1960s and 1970s. Today, finance is also widely studied through career -focused undergraduate and master's level programs. As outlined, the financial system consists of
6348-427: The latter, as above, are about optimizing the overall financial structure, including its impact on working capital. Key aspects of managerial finance thus include: The discussion, however, extends to business strategy more broadly, emphasizing alignment with the company's overall strategic objectives; and similarly incorporates the managerial perspectives of planning, directing, and controlling. Financial economics
6440-449: The life-threatening risk of spoofing in the healthcare industry. Tampering describes a malicious modification or alteration of data. It is an intentional but unauthorized act resulting in the modification of a system, components of systems, its intended behavior, or data. So-called Evil Maid attacks and security services planting of surveillance capability into routers are examples. HTML smuggling allows an attacker to "smuggle"
6532-470: The main techniques of social engineering are phishing attacks. In early 2016, the FBI reported that such business email compromise (BEC) scams had cost US businesses more than $ 2 billion in about two years. In May 2016, the Milwaukee Bucks NBA team was the victim of this type of cyber scam with a perpetrator impersonating the team's president Peter Feigin , resulting in the handover of all
6624-473: The nature of backdoors, they are of greater concern to companies and databases as opposed to individuals. Backdoors may be added by an authorized party to allow some legitimate access or by an attacker for malicious reasons. Criminals often use malware to install backdoors, giving them remote administrative access to a system. Once they have access, cybercriminals can "modify files, steal personal information, install unwanted software, and even take control of
6716-560: The openness of the Internet. These strategies mostly include phishing , ransomware , water holing and scanning. To secure a computer system, it is important to understand the attacks that can be made against it, and these threats can typically be classified into one of the following categories: A backdoor in a computer system, a cryptosystem , or an algorithm is any secret method of bypassing normal authentication or security controls. These weaknesses may exist for many reasons, including original design or poor configuration. Due to
6808-444: The present using the weighted average cost of capital for the discount factor. For share valuation investors use the related dividend discount model . Financial theory is studied and developed within the disciplines of management , (financial) economics , accountancy and applied mathematics . Abstractly, finance is concerned with the investment and deployment of assets and liabilities over "space and time"; i.e., it
6900-409: The purchase of stock , either individual securities or via a mutual fund , for example. Stocks are usually sold by corporations to investors so as to raise required capital in the form of " equity financing ", as distinct from the debt financing described above. The financial intermediaries here are the investment banks . The investment banks find the initial investors and facilitate the listing of
6992-728: The rate of 20 percent per year. By 1200 BCE, cowrie shells were used as a form of money in China . The use of coins as a means of representing money began in the years between 700 and 500 BCE. Herodotus mentions the use of crude coins in Lydia around 687 BCE and, by 640 BCE, the Lydians had started to use coin money more widely and opened permanent retail shops. Shortly after, cities in Classical Greece , such as Aegina , Athens , and Corinth , started minting their own coins between 595 and 570 BCE. During
7084-428: The real website. Preying on a victim's trust, phishing can be classified as a form of social engineering . Attackers can use creative ways to gain access to real accounts. A common scam is for attackers to send fake electronic invoices to individuals showing that they recently purchased music, apps, or others, and instructing them to click on a link if the purchases were not authorized. A more strategic type of phishing
7176-724: The related Environmental finance , address the financial strategies, resources and instruments used in climate change mitigation . Investment management is the professional asset management of various securities—typically shares and bonds, but also other assets, such as real estate, commodities and alternative investments —in order to meet specified investment goals for the benefit of investors. As above, investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds , or REITs . At
7268-413: The relationships suggested.) The discipline has two main areas of focus: asset pricing and corporate finance; the first being the perspective of providers of capital, i.e. investors, and the second of users of capital; respectively: Financial mathematics is the field of applied mathematics concerned with financial markets ; Louis Bachelier's doctoral thesis , defended in 1900, is considered to be
7360-476: The right foundation to systematically address business, IT and security concerns in an organization. A state of computer security is the conceptual ideal, attained by the use of three processes: threat prevention, detection, and response. These processes are based on various policies and system components, which include the following: Today, computer security consists mainly of preventive measures, like firewalls or an exit procedure . A firewall can be defined as
7452-475: The securities, typically shares and bonds. Additionally, they facilitate the securities exchanges , which allow their trade thereafter, as well as the various service providers which manage the performance or risk of these investments. These latter include mutual funds , pension funds , wealth managers , and stock brokers , typically servicing retail investors (private individuals). Inter-institutional trade and investment, and fund-management at this scale ,
7544-432: The security requirements of the organization. Similarly, Techopedia defines security architecture as "a unified security design that addresses the necessities and potential risks involved in a certain scenario or environment. It also specifies when and where to apply security controls. The design process is generally reproducible." The key attributes of security architecture are: Practicing security architecture provides
7636-448: The software at all. The attacker can insert the software onto a compromised device, perhaps by direct insertion or perhaps by a virus or other malware, and then come back some time later to retrieve any data that is found or trigger the software to send the data at some determined time." Using a virtual private network (VPN), which encrypts data between two points, is one of the most common forms of protection against eavesdropping. Using
7728-672: The system to the attacker, and can corrupt or delete data permanently. Another type of malware is ransomware , which is when "malware installs itself onto a victim's machine, encrypts their files, and then turns around and demands a ransom (usually in Bitcoin ) to return that data to the user." Types of malware include some of the following: Man-in-the-middle attacks (MITM) involve a malicious attacker trying to intercept, surveil or modify communications between two parties by spoofing one or both party's identities and injecting themselves in-between. Types of MITM attacks include: Surfacing in 2017,
7820-428: The team's employees' 2015 W-2 tax forms. Spoofing is an act of pretending to be a valid entity through the falsification of data (such as an IP address or username), in order to gain access to information or resources that one is otherwise unauthorized to obtain. Spoofing is closely related to phishing . There are several types of spoofing, including: In 2018, the cybersecurity firm Trellix published research on
7912-495: The test computer, and then contacted servers in Russia . In January 2022, the FBI issued another warning that members of FIN7 were targeting transportation and insurance companies (since August 2021), and defense companies (since November 2021), with BadUSB attacks designed to deliver REvil or BlackMatter ransomware. These targets were sent USB drives in packages claiming to be from Amazon or
8004-623: The three areas of personal finance, corporate finance, and public finance. These, in turn, overlap and employ various activities and sub-disciplines—chiefly investments , risk management, and quantitative finance . Personal finance refers to the practice of budgeting to ensure enough funds are available to meet basic needs, while ensuring there is only a reasonable level of risk to lose said capital. Personal finance may involve paying for education, financing durable goods such as real estate and cars, buying insurance , investing, and saving for retirement . Personal finance may also involve paying for
8096-446: The use of interest. In Sumerian, "interest" was mas , which translates to "calf". In Greece and Egypt, the words used for interest, tokos and ms respectively, meant "to give birth". In these cultures, interest indicated a valuable increase, and seemed to consider it from the lender's point of view. The Code of Hammurabi (1792–1750 BCE) included laws governing banking operations. The Babylonians were accustomed to charging interest at
8188-427: The users. Phishing is typically carried out by email spoofing , instant messaging , text message , or on a phone call. They often direct users to enter details at a fake website whose look and feel are almost identical to the legitimate one. The fake website often asks for personal information, such as login details and passwords. This information can then be used to gain access to the individual's real account on
8280-635: The various positions held by the institution—both trading positions and long term exposures —and on calculating and monitoring the resultant economic capital , and regulatory capital under Basel III . The calculations here are mathematically sophisticated, and within the domain of quantitative finance as below. Credit risk is inherent in the business of banking, but additionally, these institutions are exposed to counterparty credit risk . Banks typically employ Middle office "Risk Groups" , whereas front office risk teams provide risk "services" (or "solutions") to customers. Additional to diversification ,
8372-616: The victims, since larger companies have generally improved their security over the last decade, small and midsize businesses (SMBs) have also become increasingly vulnerable as they often "do not have advanced tools to defend the business." SMBs are most likely to be affected by malware, ransomware, phishing, man-in-the-middle attacks , and Denial-of Service (DoS) Attacks. Normal internet users are most likely to be affected by untargeted cyberattacks. These are where attackers indiscriminately target as many devices, services, or users as possible. They do this using techniques that take advantage of
8464-432: Was sent a package in the mail which contained a fake gift card from Best Buy as well as a USB flash drive with a letter stating that the recipient should plug the drive into their computer to access a list of items that could be purchased with the gift card. When tested, the USB drive emulated a keyboard, and then initiated a series of keystrokes which opened a PowerShell window and issued commands to download malware to
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