The risk of loss from attacks on, or failures of, information systems. It includes data breaches, ransomware and loss of availability.
Where you will meet it
Cyber risk comes up in 4 learning outcome notes across the FRM syllabus.
A few of them:
Advances in Artificial Intelligence: Implications for Capital Markets Activities FRM Part II · Current issues in financial markets
“The third is cyber risk, including AI-assisted attacks and data poisoning, which corrupts training data.”
Case Study: Cyberthreats and Information Security Risks FRM Part II · Operational risk and resilience
“Cyber risk is the risk of loss from attacks on, or failures of, information systems.”
The Financial Stability Implications of Artificial Intelligence FRM Part II · Current issues in financial markets
“Cyber risk grows because attackers can use AI for convincing phishing and deepfakes, and models themselves can be attacked through data poisoning.”
Digital Resilience and Financial Stability: The Quest for Policy Tools in the Financial Sector FRM Part II · Current issues in financial markets
“Cyber risk is the risk of loss from malicious, intentional acts against information systems: ransomware, data theft, denial-of-service attacks, account takeover, fraud through compromised credentials and misuse by insiders.”
GARP does not endorse, promote, review, or warrant the accuracy of the products or services offered by Charta Learning, nor does it endorse any pass rates claimed by Charta Learning. Further, GARP is not responsible for any fees or costs paid by the user to Charta Learning. FRM® and GARP® are registered trademarks owned by the Global Association of Risk Professionals, Inc. The questions, explanations and study notes are written for this product and are not GARP curriculum material.