Scotiabank funds $2-million cybersecurity and financial data initiative at UBC

Staff
Tuesday March 14, 2017
Written by Staff
A recent $2-million donation from Scotiabank will go towards cybersecurity and financial risk research at the University of British Columbia

Over the next five years, The Scotiabank Cybersecurity and Risk Analytics Initiative will support research and educational initiatives, including internships, speaker series, engagement activities like "hackathons," and other collaborative events to advance understanding of the impacts of cyberattacks and refine risk management tools.

"Data theft costs organizations billions of dollars a year worldwide, and cause psychological and social harm for individual customers. The Scotiabank Cybersecurity and Risk Analytics Initiative at UBC will advance the industry's collective understanding of how to further protect digital assets," said Michael Zerbs, chief technology officer, Scotiabank. "At the same time, Scotiabank's support will contribute to research and engage students to advance financial modelling to help manage risks and protect customers. We're proud to support UBC as part our digital strategy and our commitment to building talent in the digital economy."

Scotiabank's donation will support ongoing work led by UBC researchers Konstantin Beznosov and Hasan Cavusoglu, who specialize in cyberattack research and the human, social and economic issues concerning privacy and security; and statistics professors John Braun, Natalia Nolde and Harry Joe, who are making significant contributions to financial risk modelling and probability theory.

The donation will also support the Creative Destruction Lab West (CDL West) at the UBC Sauder School of Business.

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