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This paper aims to focus on the different types of insider-led cyber frauds that gained mainstream attention in recent large-scale fraud events involving prominent Indian banking institutions. In addition to identifying and classifying cyber fraud, the study maps them on a severity scale for optimal mitigation planning.

The methodology used for identification and classification is an analysis of a detailed literature review, a focus group discussion with risk and vigilance officers and cyber cell experts, as well as secondary data of cyber fraud losses. Through machine learning-based random forest, the authors predicted the future of insider-led cyber frauds in the Indian banking business and prioritized and predicted the same. The projected future reveals the dominance of a few specific cyber frauds, which will make it easier to develop a fraud mitigation model based on a victim-centric approach.

The paper concludes with a conceptual framework that can be used to ensure a sustainable cyber fraud mitigation ecosystem within the scope of the study. By using the findings of this research, policymakers and fraud investigators will be able to create a more robust environment for banks through timely detection of cyber fraud and prevent it appropriately before it happens.

The study focuses on fraud, risk and mitigation from a victim-centric perspective and does not address it from the fraudster’s perspective. Data availability was a challenge. Banks are recommended to compile data that can be used for analysis both by themselves and other policymakers.

The structured, sustainable cyber fraud mitigation suggested in the study will provide an agile, quick, proactive, stakeholder-specific plan that helps to safeguard banks, employees, regulatory authorities, customers and the economy. It saves resources, cost and time for bank authorities and policymakers. The mitigation measures will also help improve the reputational status of the Indian banking business and prolong the banks’ sustenance.

The innovative cyber fraud mitigation approach contributes to the sustainability of a bank’s ecosystem quickly, proactively and effectively.

The vulnerability issue in supply chains is among the most pressing concerns that firms are currently facing. As a preliminary attempt to address the lack of empirical research, this paper aims to primarily explore the relationship between vulnerability mitigation strategies and supply chain effectiveness with security culture as a moderator.

Data are gathered via a survey of 209 Indonesian manufacturing firms. The data are analyzed using partial least squares technique.

Results indicate that supply chain visibility, supply chain flexibility and supplier development strategies positively affect supply chain effectiveness. Moreover, risk culture positively moderates the effects of supply chain visibility and supplier development on supply chain effectiveness.

The findings may improve supply chain effectiveness by mitigating the effects of vulnerability causes.

This study contributes to the advancement of knowledge on the relationships between vulnerability mitigation strategies and supply chain effectiveness.

The purpose of this paper is to develop a model for upstream supply chain risk management linking risk identification, risk assessment and risk mitigation to risk performance and validate the model empirically. The effect of a continuous improvement process on identification, assessment, and mitigation is also included in the model.

A literature review is undertaken to derive the hypotheses and operationalize the included constructs. The paper then tests the path analytical model using partial least squares analyses on survey data from 162 large and mid‐sized manufacturing companies located in Germany.

All items load high on their respective constructs and the data provides robust support to all hypothesized relationships. Superior risk identification supports the subsequent risk assessment and this in turn leads to better risk mitigation. The model explains 46 percent of the variance observed in risk performance.

This study empirically validates the sequential effect of the three risk management steps on risk performance as well as the influence of continuous improvement activities. Limitations of this study can be seen in the use of perceptional data from single informants and the focus on manufacturing firms in a single country.

The detailed operationalization of the constructs sheds further light on the problem of measuring risk management efforts. Clear evidence of the performance effect of risk management provides managers with a business case to invest in such initiatives.

This is one of the first large‐scale, empirical studies on the process dimensions of upstream supply chain risk management.

During the last several years, a stream of research has evolved that investigates the influence of outcome information on evaluation judgments in an auditor legal liability context. These studies have included judges and jurors and have utilized different cases and scenarios. Our objective in this paper is to review and discuss insights from this stream of research. This research consists of three phases. Phase 1 focuses on the robust manifestation of outcome effects in an audit legal liability context, Phase 2 examines the effectiveness of selected mitigation strategies in moderating outcome effects, and Phase 3 begins the process of developing a preliminary theoretical framework. We also discuss future research that could be done to better understand outcome effects and to test operational responses and proposed remedies.

The purpose of this paper is to understand how built environment professionals approach the valuation of flood risk in commercial property markets and whether insurance promotes mitigation in different insurance and risk management regimes, draw common conclusions and highlight opportunities to transfer learning.

An illustrative case study approach involving literature search and 72 interviews with built environment professionals, across five countries in four continents.

Common difficulties arise in availability, reliability and interpretation of risk information, and in evaluating the impact of mitigation. These factors, coupled with the heterogeneous nature of commercial property, lack of transactional data and remote investors, make valuation of risk particularly challenging in the sector. Insurance incentives for risk mitigation are somewhat effective where employed and could be further developed, however, the influence of insurance is hampered by lack of insurance penetration and underinsurance.

Further investigation of the means to improve uptake of insurance and to develop insurance incentives for mitigation is recommended.

Flood risk is inconsistently reflected in commercial property values leading to lack of mitigation and vulnerability of investments to future flooding. Improvements are needed in: access to adequate risk information; professional skills in valuing risk; guidance on valuation of flood risk; and regulation to ensure adequate consideration of risk and mitigation options.

The research addresses a global issue that threatens local, and regional economies through loss of utility, business profitability and commercial property value. It is unique in consulting professionals across international markets.

Insurance is widely regarded as a key adaptation option for climate change. Yet, the experience of the insurance sector in dealing with climatic hazards, particularly flooding, has been highly varied. Drawing from the experience of the US National Flood Insurance Program (NFIP), the purpose of this paper is to identify opportunities and challenges associated with using insurance as an adaptation strategy for climate change.

This article critically reviews the history and recent performance of the NFIP and considers lessons for climate change adaptation through insurance.

The US NFIP offers government‐subsidized flood insurance for firms and residences. Over its 40‐year history, the NFIP has struggled with financial instability and low levels of public participation in the program. The experience of the NFIP offers several lessons regarding the viability of insurance as an adaptation strategy: increasing insurance premiums to account for new climatic risks may mean that a growing segment of the population is unable or unwilling to purchase insurance, absent some other form of subsidization; educating the public on levels of risk and promoting appropriate risk mitigation are highly effective means for reducing damages from current and emerging weather‐related risks; and close public‐private cooperation is likely to be needed to prevent withdrawal of private insurers from high‐risk areas and to ensure that insurance coverage continues to be widely available.

Examination of past experience with insurance as a mechanism for climate adaptation offers lessons and insights that can inform development of effective strategies to address climate change.

With the emergence of biological weapons of mass destruction as potential tools of terrorism, Presidential Decision Directive 39 initiated US plans to enhance mitigation and response activity. Anecdotal information suggests many of the likely behavioral and organizational response challenges are not being addressed. The current paper applies the disaster research literature to identify the likely behavioral and organizational response challenges a community or nation would encounter in a bio‐terrorist attack on a metropolitan area. Mitigation and response planning, it is argued, would be enhanced if these likely challenges were actually taken into account.

Reputation risk onsets in focal firm whenever any entity of its supply chain (SC) faces risk-crisis event. A framework for modeling and predicting holistic SC reputation risk is proposed by integrating operational risk (OR) drivers originating from upstream and downstream partners and focal firm. A fuzzy cognitive map (FCM) is then developed to predict and quantify Pharmaceutical SC reputation risk.

Using event study methodology, SC reputation risk framework with 13 input OR drivers was developed. Based on pharmaceutical supply chain experts’ opinion, the correlation between reputation risk and its input drivers was estimated. The developed FCM tool was validated using nine real-life instances. A series of “what-if” scenario analyses were performed to demonstrate effectiveness of proactive and reactive mitigation strategies against reputation risk.

Quality and unethical governance risks significantly impacted reputation in Pharmaceutical SC and a firm should prefer “risk avoidance” against these risks. The upstream risks significantly affect reputation in a Pharmaceutical SC as compared to the downstream risks. Proactive mitigation strategies and assertive crisis communication are suggested for upstream risks while diminishment/ bolstering/rebuilding reactive crisis communication is recommended for downstream risks.

Reputation risk is often overlooked in SC literature. This work develops a model to quantify the reputation risk considering the indirect consequences of the ORs that originates at any point in a SC. The proposed FCM tool aids SC manager to focus on higher attribution risk events and devise an optimal combination of proactive and reactive mitigation strategies to avoid/minimize the economic loss due to reputation crisis.

Collaborative-based national cybersecurity incident management benefits from the huge size of incident information, large-scale information security devices and aggregation of security skills. However, no existing collaborative approach has been able to cater for multiple regulators, divergent incident views and incident reputation trust issues that national cybersecurity incident management presents. This paper aims to propose a collaborative approach to handle these issues cost-effectively.

A collaborative-based national cybersecurity incident management architecture based on ITU-T X.1056 security incident management framework is proposed. It is composed of the cooperative regulatory unit with cooperative and third-party management strategies and an execution unit, with incident handling and response strategies. Novel collaborative incident prioritization and mitigation planning models that are fit for incident handling in national cybersecurity incident management are proposed.

Use case depicting how the collaborative-based national cybersecurity incident management would function within a typical information and communication technology ecosystem is illustrated. The proposed collaborative approach is evaluated based on the performances of an experimental cyber-incident management system against two multistage attack scenarios. The results show that the proposed approach is more reliable compared to the existing ones based on descriptive statistics.

The approach produces better incident impact scores and rankings than standard tools. The approach reduces the total response costs by 8.33% and false positive rate by 97.20% for the first attack scenario, while it reduces the total response costs by 26.67% and false positive rate by 78.83% for the second attack scenario.

The purpose of this paper is to provide useful information for members of the weather community and policy makers, to help them understand the full scope of drought economic impacts and assessment methodologies, and to help determine the feasibility of future drought mitigation programs.

To accomplish the objective, the paper reviews the literature of drought economic impact studies in both agricultural and non‐agricultural sectors, summarizes the methods and data employed, compares the various results, and investigates the problems and limitations of previous studies.

The paper concludes with a discussion of the challenges and directions of future improvement on drought economic impact assessment.

This paper gives a comprehensive review of drought economic impacts and the associated quantitative assessment methodologies, which provides valuable information to rational decisions supporting drought mitigation policies and programs.