Systemic Cyber Risk: A Primer

David Forscey, Jon Bateman, Nick Beecroft, and Beau Woods

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There is growing concern about “systemic cyber risk”—the possibility that a single failure somewhere in cyberspace could cause widening ripples with catastrophic consequences. Whereas most cyber events have a narrowly defined set of victims, a systemic cyber incident could do damage on a national or even a global scale—threatening the digital infrastructure that entire societies, economies, and governments rely on to function. In the last few months alone, two very different events illustrated distinct versions of the problem.