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Thursday, March 19, 2015

Network Economics of Cybercrime and Data Assets

In Analytics Magazine:  This connects with some of my recent work looking at data asset and risk value.  Technical details at the link, reviewing. 

" ... A new computer-based model examining cybercrimes adds an important way of examining the perishable value of stolen data so policymakers can plan against future hacks such as the recent Anthem data breach, according to a study authored by Anna Nagurney and published by the INFORMS journal Service Science. The model captures the network economics of cybercrime activity and permits the policy evaluation of interventions. ...   A novel feature of the model is its inclusion of the critical time element and perishability of stolen cyber financial products whose value, as in the case of fresh produce, decreases over time, which in turn impacts their price on the black market. The model also identifies different demand prices for different financial products, with certain credit cards being more valuable because of credit limit, expiration date and continent of origin. ... " 

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