Abstract
In the recent years, an alarming rise in the incidence of cyber attacks has made cyber security a major concern for nations across the globe. Given the current volatile socio-political environment and the massive increase in the incidence of terrorism, it is imperative that government agencies rapidly realize the possibility of cyber space exploitation by terrorist organizations and state players to disrupt the normal way of life. The threat level of cyber terrorism has never been as high as it is today, and this has created a lot of insecurity and fear. This study has focused on different aspects of cyber attacks and explored the reasons behind their increasing popularity among the terrorist organizations and state players. This study proposes an empirical model that can be used to estimate the risk levels associated with different types of cyber attacks and thereby provide a road map to conceptualize and formulate highly effective counter measures and cyber security policies.