A Cyber Risk Management Framework to Address Evolving Threats in U.S. and Canadian Critical Infrastructure

• Author(s): Gideon Opeyemi Babatunde ; Abidemi Adeleye Alabi ; Sikirat Damilola Mustapha ; Adebimpe Bolatito Ige
• Paper ID: 1702648
• Page: 222-244
• Published Date: 30-04-2021
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 4 Issue 10 April-2021

Abstract

The growing reliance on interconnected systems has heightened the vulnerability of critical infrastructure in the U.S. and Canada to cyber threats. These threats, evolving in sophistication and frequency, underscore the urgent need for robust cyber risk management frameworks tailored to protect essential sectors such as energy, transportation, and healthcare. This paper proposes a comprehensive Cyber Risk Management Framework designed to address these emerging challenges, emphasizing resilience, adaptability, and cross-border collaboration. The framework integrates key elements, including proactive risk assessment, advanced threat intelligence, and real-time monitoring, to enhance the detection and mitigation of cyberattacks. It leverages cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML) to predict and respond to threats with greater precision. Furthermore, the framework incorporates compliance with regulatory requirements in both countries, ensuring alignment with standards like the National Institute of Standards and Technology (NIST) Cybersecurity Framework and Canada's Cyber Security Strategy. A cornerstone of the proposed approach is fostering public-private partnerships to enable information sharing, joint incident response, and resource pooling. Recognizing the interconnected nature of critical infrastructure, the framework promotes a collaborative security posture across sectors and borders. Additionally, it addresses the human factor by advocating for continuous training programs to enhance cybersecurity awareness among stakeholders. Case studies highlight the framework’s application in mitigating ransomware attacks and securing industrial control systems (ICS). The findings demonstrate improved resilience against cyber disruptions, reduced response times, and enhanced recovery processes. This work also identifies challenges, such as legal barriers to information sharing and the need for standardized metrics to measure effectiveness. In conclusion, this Cyber Risk Management Framework represents a strategic initiative to safeguard the critical infrastructure of the U.S. and Canada against evolving cyber threats. By leveraging technology, fostering collaboration, and ensuring regulatory compliance, the framework aims to enhance the resilience of critical systems and protect the economies and societies dependent on them.

Keywords

Cyber Risk Management, Critical Infrastructure, U.S., Canada, Cybersecurity Framework, Threat Intelligence, Public-Private Partnerships, AI, Machine Learning, Resilience

Citations

IRE Journals:
Gideon Opeyemi Babatunde , Abidemi Adeleye Alabi , Sikirat Damilola Mustapha , Adebimpe Bolatito Ige "A Cyber Risk Management Framework to Address Evolving Threats in U.S. and Canadian Critical Infrastructure" Iconic Research And Engineering Journals Volume 4 Issue 10 2021 Page 222-244

IEEE:
Gideon Opeyemi Babatunde , Abidemi Adeleye Alabi , Sikirat Damilola Mustapha , Adebimpe Bolatito Ige "A Cyber Risk Management Framework to Address Evolving Threats in U.S. and Canadian Critical Infrastructure" Iconic Research And Engineering Journals, 4(10)