Tag: Risk & Uncertainty

Technology Trends & Competitive Advantage

Safeguarding Your Digital World: Embracing World Backup Day

Indrajit Roy Choudhury

In today's digital age, our lives are intricately woven into the digital fabric, with memories and essential information stored on devices. World Backup Day, observed annually on March 31st, serves as a reminder to protect our digital assets. Data loss can be devastating, so implementing a robust backup strategy is crucial. Evaluation of current backup methods and automation of regular backups are key steps. By embracing proactive backup practices, individuals and organizations can empower themselves with digital resilience, ensuring the safety and accessibility of their digital lives.

Reflections, Ideas & Perspectives

COVID-19: A Case of Knightian Uncertainty

Indrajit Roy Choudhury

Frank Knight, an economist, formalised a distinction between risk and uncertainty in his 1921 book, Risk, Uncertainty, and Profit. In his classic book, Knight introduced a distinction between measurable uncertainty, which he called “risk,” and “true uncertainty,” which cannot “by any method be reduced to an objective, quantitatively determined probability.”

Reflections, Ideas & Perspectives

Global Finance vs. COVID-19: Strategies for Economic Stability

Indrajit Roy Choudhury

G7 finance ministers and central bank governors pledge to use policy tools against coronavirus threat, but effectiveness remains uncertain. Rate cuts have been swift but may be limited. Global economy faces potential impacts, including market downturn and decreased trade. COVID-19 presents major challenges, affecting economic and trade activities globally and in Iraq. Iraq faces dual crises with plummeting oil prices and trade disruptions amidst coronavirus outbreak. Fiscal deficits and vulnerabilities loom, but hope for containment and recovery persists.

Cybersecurity, Compliance & Risk Intelligence

The Rise of Logical ATM Attacks: A Growing Threat to Global Banking Systems

Indrajit Roy Choudhury

Logical ATM attacks have become a major concern for financial institutions worldwide, as hackers exploit vulnerabilities in bank networks to remotely manipulate ATMs and steal millions. These covert attacks underscore the evolving threat landscape of cybercrime and the need for robust cybersecurity measures, collaboration, and vigilance to safeguard the integrity of global banking systems.