Cyber risk management in digital environment: Case of Kazakhstani bank

Abstract

The article is devoted to the cyber risks Kazakhstani banks are facing in the digital environment. Kazakhstani banks along with other business structures in the digital era and digital environment face the new type of risk caused by the 3rd and 4th Industrial Revolutions and named “cyber risk”.Methodology of the research involves the study of key problems of Kazakhstan in cybersecurity area; types of cyber threats; indicators and results of Cyber Shield of Kazakhstan till 2020; the global position of Kazakhstan in cybersecurity as premises of risk management paradigm and its new methodology in order to find the ways of the modern management of cyber risks. The model of cyber risks management of Russian “Sberbank” is used to determine the level of risk in “Kaspi Bank”.