Secure cyber incident analytics framework using Monte Carlo simulations for financial cybersecurity insurance in cloud computing

The remarkable increasing demands of mitigating losses from cyber incidents for financial firms have been driving the rapid development of the Cybersecurity Insurance (CI). The implementations of CI have covered a variety of aspects in cyber incidents, from hacking to frauds. However, CI is still at its exploring stage so that there are a number of dimensions that are uncovered by the current applications. The cyber attack on critical infrastructure is one of the serious issues that prevents the expansions of CI. This paper addresses CI implementations focusing on cloud‐based service offerings and proposes a secure cyber incident analytics framework using big data, named as Cost‐Aware Hierarchical Cyber Incident Analytics (CA‐HCIA). The approach is designed for matching different cyber risk scenarios, which uses repository data. We use Monte Carlo simulations for extracting the incident features based on the training datasets. The main algorithms in CA‐HCIA include Monte Carlo Cyber Feature Extraction (MC2FE) and Optimal Cost Balance (OCA) Algorithms. Our experimental evaluation has provided the theoretical proof of the adoptability and feasibility. Results show that our proposal improves the cost of existing techniques in 7.98% and 15.39%. Copyright © 2016 John Wiley & Sons, Ltd.

[1]  Meikang Qiu,et al.  Understanding Model Risk Management -- Model Rationalization in Financial Industry , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[2]  Keke Gai,et al.  Phase-Change Memory Optimization for Green Cloud with Genetic Algorithm , 2015, IEEE Transactions on Computers.

[3]  Keke Gai,et al.  Dynamic energy-aware cloudlet-based mobile cloud computing model for green computing , 2016, J. Netw. Comput. Appl..

[4]  Keke Gai,et al.  Internet-Based Anti-Counterfeiting Pattern with Using Big Data in China , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[5]  Keke Gai,et al.  Efficiency-Aware Workload Optimizations of Heterogeneous Cloud Computing for Capacity Planning in Financial Industry , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[6]  Keke Gai,et al.  A Reusable Software Component for Integrated Syntax and Semantic Validation for Services Computing , 2015, 2015 IEEE Symposium on Service-Oriented System Engineering.

[7]  Meikang Qiu,et al.  Security enhancement of cloud servers with a redundancy-based fault-tolerant cache structure , 2015, Future Gener. Comput. Syst..

[8]  Richard Kuhlman,et al.  FINRA publishes its 2015 “Report on Cybersecurity Practices” , 2015 .

[9]  Richard Kuhlman,et al.  SEC issues cybersecurity exam observations , 2015 .

[10]  Meikang Qiu,et al.  Resource allocation robustness in multi-core embedded systems with inaccurate information , 2011, J. Syst. Archit..

[11]  Meikang Qiu,et al.  A Multi-order Markov Chain Based Scheme for Anomaly Detection , 2013, 2013 IEEE 37th Annual Computer Software and Applications Conference Workshops.

[12]  Meikang Qiu,et al.  Modeling for CPU-Intensive Applications in Cloud Computing , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[13]  QiuMeikang,et al.  Intrusion detection techniques for mobile cloud computing in heterogeneous 5G , 2016 .

[14]  Keke Gai,et al.  Anti-Counterfeit Scheme Using Monte Carlo Simulation for E-commerce in Cloud Systems , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[15]  Meikang Qiu,et al.  Three-phase time-aware energy minimization with DVFS and unrolling for Chip Multiprocessors , 2012, J. Syst. Archit..

[16]  Keke Gai,et al.  Proactive Attribute-based Secure Data Schema for Mobile Cloud in Financial Industry , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[17]  Meikang Qiu,et al.  A piecewise geometry method for optimizing the motion planning of data mule in tele-health wireless sensor networks , 2014, Wirel. Networks.

[18]  Jie Li,et al.  Maintainable Mobile Model Using Pre-Cache Technology for High Performance Android System , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[19]  Keke Gai,et al.  A Review of Leveraging Private Cloud Computing in Financial Service Institutions: Value Propositions and Current Performances , 2014 .

[20]  Keke Gai,et al.  A Feasibility Study of Platform-as-a-Service Using Cloud Computing for a Global Service Organization , 2014 .

[21]  Meikang Qiu,et al.  Defending jamming attack in wide-area monitoring system for smart grid , 2015, Telecommun. Syst..

[22]  Meikang Qiu,et al.  Informer homed routing fault tolerance mechanism for wireless sensor networks , 2013, J. Syst. Archit..

[23]  Keke Gai,et al.  Data transfer minimization for financial derivative pricing using Monte Carlo simulation with GPU in 5G , 2016, Int. J. Commun. Syst..

[24]  Meikang Qiu,et al.  A decentralized approach for mining event correlations in distributed system monitoring , 2013, J. Parallel Distributed Comput..

[25]  David Dickman,et al.  Reducing Cyber Risk , 2014 .

[26]  Meikang Qiu,et al.  Performance and Power Analysis of High-Density Multi-GPGPU Architectures: A Preliminary Case Study , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[27]  Jean-Yves Tourneret,et al.  Estimating the Granularity Coefficient of a Potts-Markov Random Field Within a Markov Chain Monte Carlo Algorithm , 2012, IEEE Transactions on Image Processing.

[28]  Meikang Qiu,et al.  Meta Meta-Analytics for Risk Forecast Using Big Data Meta-Regression in Financial Industry , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[29]  Zhi Chen,et al.  Energy-Aware Data Allocation With Hybrid Memory for Mobile Cloud Systems , 2017, IEEE Systems Journal.

[30]  Keke Gai,et al.  Ontology-Based Knowledge Representation for Secure Self-Diagnosis in Patient-Centered Teleheath with Cloud Systems , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[31]  Meikang Qiu,et al.  Energy minimization with loop fusion and multi-functional-unit scheduling for multidimensional DSP , 2008, J. Parallel Distributed Comput..

[32]  Meikang Qiu,et al.  Privacy Protection for Preventing Data Over-Collection in Smart City , 2016, IEEE Transactions on Computers.

[33]  Meikang Qiu,et al.  Thermal-aware task scheduling in 3D chip multiprocessor with real-time constrained workloads , 2013, TECS.

[34]  Keke Gai,et al.  A Novel Secure Big Data Cyber Incident Analytics Framework for Cloud-Based Cybersecurity Insurance , 2016, 2016 IEEE 2nd International Conference on Big Data Security on Cloud (BigDataSecurity), IEEE International Conference on High Performance and Smart Computing (HPSC), and IEEE International Conference on Intelligent Data and Security (IDS).

[35]  Min Chen,et al.  A novel pre-cache schema for high performance Android system , 2016, Future Gener. Comput. Syst..

[36]  Meikang Qiu,et al.  Online optimization for scheduling preemptable tasks on IaaS cloud systems , 2012, J. Parallel Distributed Comput..

[37]  Meikang Qiu,et al.  Exponential ${\rm H}_{\infty}$ Synchronization of General Discrete-Time Chaotic Neural Networks With or Without Time Delays , 2010, IEEE Transactions on Neural Networks.

[38]  Keke Gai,et al.  Proactive user-centric secure data scheme using attribute-based semantic access controls for mobile clouds in financial industry , 2018, Future Gener. Comput. Syst..

[39]  Simon M. Lucas,et al.  A Survey of Monte Carlo Tree Search Methods , 2012, IEEE Transactions on Computational Intelligence and AI in Games.

[40]  Meikang Qiu,et al.  Model Risk Management Systems-Back-End, Middleware, Front-End and Analytics , 2015, 2015 IEEE 2nd International Conference on Cyber Security and Cloud Computing.

[41]  Meikang Qiu,et al.  A Novel Energy-Aware Fault Tolerance Mechanism for Wireless Sensor Networks , 2011, 2011 IEEE/ACM International Conference on Green Computing and Communications.

[42]  Kavé Salamatian,et al.  Anomaly extraction in backbone networks using association rules , 2009, IMC '09.

[43]  Meikang Qiu,et al.  Selecting proper wireless network interfaces for user experience enhancement with guaranteed probability , 2012, J. Parallel Distributed Comput..

[44]  Limin Xiao,et al.  Enabling dynamic file I/O path selection at runtime for parallel file system , 2013, The Journal of Supercomputing.

[45]  Keke Gai,et al.  Intercrossed Access Controls for Secure Financial Services on Multimedia Big Data in Cloud Systems , 2016, ACM Trans. Multim. Comput. Commun. Appl..

[46]  Meikang Qiu,et al.  Sensor virtualization for underwater event detection , 2014, J. Syst. Archit..

[47]  Rachel V. Rose.  Approaching Internal Audits from an Enterprise Risk Management Perspective , 2015 .

[48]  Athanasios V. Vasilakos,et al.  A RF4CE-based remote controller with interactive graphical user interface applied to home automation system , 2013, TECS.

[49]  Keke Gai,et al.  Analysis on Urban Collective Call Behavior to Earthquake , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[50]  Keke Gai,et al.  An Empirical Study on Preprocessing High-Dimensional Class-Imbalanced Data for Classification , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[51]  Zhi Chen,et al.  Low-Power Low-Latency Data Allocation for Hybrid Scratch-Pad Memory , 2014, IEEE Embedded Systems Letters.

[52]  Pan Hui,et al.  CyberInsurance for cybersecurity a topological take on modulating insurance premiums , 2012, PERV.

[53]  Keke Gai,et al.  Towards Cloud Computing: A Literature Review on Cloud Computing and Its Development Trends , 2012, 2012 Fourth International Conference on Multimedia Information Networking and Security.

[54]  Bu-Sung Lee,et al.  Optimization of Resource Provisioning Cost in Cloud Computing , 2012, IEEE Transactions on Services Computing.

[55]  Xin He,et al.  Research on Campus Mobile Model Based on Periodic Purpose for Opportunistic Network , 2015, 2015 IEEE 17th International Conference on High Performance Computing and Communications, 2015 IEEE 7th International Symposium on Cyberspace Safety and Security, and 2015 IEEE 12th International Conference on Embedded Software and Systems.

[56]  Meikang Qiu,et al.  Enabling Cloud Computing in Emergency Management Systems , 2014, IEEE Cloud Computing.